Cryptocurrency Daily Thefoxposts.com

Tether, a prominent stablecoin firm, has responded to claims made by the United Nations regarding the use of its USDT stablecoin in illegal operations. On Jan. 15, the Southeast Asia and Pacific division of the UN Office for Drugs and Crime published a report focusing on the involvement of cryptocurrencies in illicit activities and underground banking. The report, named “Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden, Accelerating Threat,” identified the USDT stablecoin, particularly on the Tron blockchain, as a key tool for money laundering in the region, citing its stability, transaction anonymity, and low fees. In response, Tether, on the same day, refuted the UN’s findings, arguing that the report overlooked the traceability of USDT and its history of cooperation with global law enforcement agencies. Tether Challenges UN Report and Calls for Blockchain Education Read more ️https://t.co/R...

A recent UN report reveals hundreds of thousands of vulnerable migrants have been forced to participate in online scams. It confirms allegations made in a previous FBI report. The new report by the United Nations Human Rights Office has exposed the full scale of horrific human rights abuses taking place inside Southeast Asia’s shadowy network of online scam centers. The same centers are responsible for “wide-ranging digital criminal activity such as romance-investment scams, crypto fraud, money laundering and illegal gambling.” Based on interviews with victims and investigations by UN human rights experts, the report reveals that hundreds of thousands of vulnerable migrants, including well-educated professionals, have been trafficked and forced into online criminal enterprises run by transnational crime syndicates across Cambodia, Laos, Myanmar, the Philippines, and other regional hubs. Victims tell harrowing tales of being recruited through elaborate but totally...