news 
Title: 100 million dollars in illegal funds frozen by Tron and Tether
Despite repeated warnings for violating anti-money laundering (AML) regulations, the Binance cryptocurrency exchange failed to comply with international laws. Meanwhile, Changpeng Zhao, the former CEO of Binance, is facing a group lawsuit in Australia. According to the lawsuit, three investors were unable to recover their stolen assets after AML measures implemented by Binance lost effectiveness.
In another significant case, Alexey Pertsev, the developer of Tornado Cash, received a 64-month prison sentence from a Dutch court for laundering $1.2 billion worth of cryptocurrency on his platform. Despite criticism for facilitating illegal activities, Tether collaborated with authorities to prevent the transfer of illicit funds. The company’s blacklisting feature uses smart contracts to put those addresses that may be involved in criminal activity on a blacklist.
The same feature has been instrumental in freezing over $35 million in USDT, as requested by law enforcement agencies or automatically detected. In March 2024, Tether successfully worked with the United States Department of Justice to recover $1.4 million.
Tether’s CEO, Paolo Ardoino, denies malicious allegations and continues to emphasize the importance of crime prevention and transparency.
Source: www.bitcoinbazis.hu
