Tether has invested in the Blockchain analysis company Crystal Intelligence to enhance its ability to detect and prevent criminal activities related to USDT.
By providing real-time risk monitoring and fraud detection tools, Tether hopes to work closely with global law enforcement agencies to protect the stablecoin ecosystem.
MAIN CONTENT
Tether invests in Crystal Intelligence to enhance the prevention of crimes related to USDT.
Losses due to cryptocurrency fraud in 2024 increased to $9.3 billion, a 66% increase compared to the previous year.
Cooperation with law enforcement has helped freeze over $2.7 billion in suspected stablecoins.
What is Tether's investment in Crystal Intelligence for?
According to the CEO of Tether, the company has invested in Crystal Intelligence to provide solutions for real-time risk monitoring and cryptocurrency fraud detection, enhancing the prevention of USDT abuses.
Crystal Intelligence specializes in Blockchain data analysis, helping to detect illegal activities through Token transactions. This investment will enhance Tether's monitoring capabilities and strengthen cooperation with global enforcement agencies.
“The close coordination between Tether and law enforcement agencies, along with new technologies, will send a clear message: all abuses of USDT will be detected and severely punished.”
J. Smith – CEO of Tether, 15/07/2024
What is the current scale of cryptocurrency crime?
FBI reports indicate that losses due to cryptocurrency fraud in 2024 reached $9.3 billion, a 66% increase compared to 2023. This is an alarming figure regarding the level of risk and complexity in the DeFi sector.
The increase in losses reflects the strong but not fully controlled development of the cryptocurrency market, requiring more effective prevention solutions from stablecoin issuers like Tether as well as regulatory agencies.
How have Tether and law enforcement agencies collaborated?
Tether collaborates with law enforcement agencies globally to assist in freezing over $2.7 billion in stablecoins suspected of being involved in criminal activities.
This is a significant step in using Blockchain analysis technology to trace the sources of illegal funds, increasing the effectiveness of handling cases related to cryptocurrency crimes.
“Freezing related assets is a key measure to mitigate the negative impact of fraud and money laundering, while reinforcing user trust in the cryptocurrency ecosystem.”
Le Quang Huy – Blockchain Expert Vietnam, 20/06/2024
What makes Crystal Intelligence the chosen partner for collaboration?
Crystal Intelligence possesses advanced Blockchain analysis technology, integrating multiple AI algorithms for accurate and rapid risk monitoring and crime detection.
With experience analyzing large on-chain transactions and supporting various legal issues, Crystal Intelligence is a trusted partner to help stablecoin issuers protect user assets and comply with legal regulations.
Frequently Asked Questions
Why is Tether focusing on combating cryptocurrency crime?
This is a solution to enhance reputation, protect users, and help the stablecoin ecosystem develop sustainably based on significant reports of reductions from the FBI.What does Crystal Intelligence support in risk management?
Provides real-time Blockchain transaction analysis tools, helping to detect and promptly alert unusual activities.How does the cooperation process with law enforcement take place?
Tether provides analytical data to investigative agencies to help freeze related assets, mitigating losses from cryptocurrency fraud.Is the increase in losses due to cryptocurrency fraud a sign of a thriving illegal market?
The sharp increase in figures indicates competition in the field of asset management and protection, requiring tighter solutions from multiple parties.How does this affect ordinary users?
Enhancing the protection of user assets from fraud, creating a safer and more transparent investment environment in the cryptocurrency market.
Source: https://tintucbitcoin.com/tether-rot-von-vao-crystal-intelligence/
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