Security· ★★★· bearish·

Network laundered $36.9M stolen from 174 Americans via USDT and Bahamas bank

  • —$36.9 million stolen from 174 victims via fake crypto investment schemes
  • —Funds passed through a Deltec Bank account in the Bahamas, then converted to USDT
  • —Eight people have pleaded guilty; Zheng Zhao's hearing is set for Nov. 30
  • —Court ordered Jingliang Su to pay $26.9 million in restitution to victims
Why it matters: The case shows how traditional banking rails and stablecoins are combined to launder funds, adding pressure on USDT compliance.
#USDT
Source: CryptoActu
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