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Tether, the company behind the world’s largest stablecoin USDT, has refuted allegations from a United Nations report suggesting that it was used in illicit activities. The report indicated that North Korean hackers used USDT to get around global financial sanctions.
Tether vehemently denies these allegations, stating that its tokens cannot be used to bypass any sanctions as their platform blocks all addresses identified as coming from sanctioned countries. Additionally, the company highlighted the lack of concrete evidence backing these claims in the UN’s report.
Despite this denial, Tether acknowledges the need to tackle cryptocurrency misuse. As a part of their efforts, they stated they cooperate fully with law enforcement agencies worldwide and are committed to protecting their platform from illicit activities.
Source: Coincodecap
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