Tether, one of the world’s largest cryptocurrency platforms, has emerged as one of the leading payment methods for money launderers and fraudsters operating in south-east Asia, the UN has warned.
According to a report published on Monday by the UN’s office on drugs and crime, Tether’s crypto token, also known as tether, is at the heart of an exploding industry of scams, including those that engineer false romantic connections to gain a victim’s trust before luring them to transfer large sums — a strategy commonly referred to as “pig butchering”.
“In recent years, law enforcement and financial intelligence authorities have reported the rapidly growing use of sophisticated, high-speed