DOJ Seizes Funds From Bank Accounts Linked to Stablecoin Issuer Tether

The US Department of Justice has seized millions of dollars from bank accounts and crypto wallets tied to Tether Limited, the issuer of the USDT stablecoin. According to the Financial Times, the case centers on unlicensed payment processor Capstone, which is accused of hundreds of millions of dollars in fraudulent transfers. Tether and Bitfinex said they were merely customers of EQIBank and had no knowledge of the alleged fraud.

• DOJ seized millions of dollars from accounts and wallets linked to Tether
• Case centers on payment processor Capstone and alleged fraud worth hundreds of millions
• Tether and Bitfinex said they were only EQIBank customers and unaware of wrongdoing
• Tether issues a stablecoin and holds $140 billion in US government debt