Tether Usdt - GoKawiil

Zhen Zhao extradited from Netherlands over $36.9M crypto pig-butchering scam

Chinese national Zhen Zhao, 44, was arraigned in California after being extradited from the Netherlands on charges tied to a cryptocurrency investment fraud scheme that stole nearly $37 million from 174 U.S. victims. Prosecutors say Zhao and accomplices in the U.S. and Cambodia ran fake trading websites and used Deltec Bank in the Bahamas to convert victim funds into Tether before routing them to scam centers in Cambodia. He was charged in August 2025 with conspiracy to commit money laundering and faces up to 20 years in prison if convicted.

bleepingcomputer.com · 2026-10-26

Senate report: Iran uses Tether's USDT to dodge sanctions, fund proxies

A Senate Permanent Subcommittee on Investigations report led by Sen. Richard Blumenthal alleges Iran relies on Tether's USDT stablecoin as a key part of a 'shadow banking network' to bypass sanctions and finance terrorist proxies and military equipment purchases. The subcommittee examined 846 sanctioned crypto wallets tied to Iran and regional proxies, finding 84 percent used USDT almost exclusively, and it accuses Tether of inconsistently freezing flagged wallets before 2024. Tether responded that it has frozen nearly $550 million in USDT linked to Iran this year and denies USDT is a haven for sanctioned or criminal actors.

engadget.com · 2026-09-29