Hacking News
US Prosecutors: $36.9M Stolen from Americans Moved Through Bahamas Bank into USDT
US prosecutors allege that $36.9 million stolen from 174 Americans was moved through a Bahamas bank and into USDT (Tether's USDT stablecoin). Zheng Zhao, a Chinese national accused of laundering the funds, has been extradited to the United States. The operation involved fraudsters using fake investment websites to steal funds, which were then laundered through US shell companies, international bank accounts, and cryptocurrency wallets into Tether's USDT stablecoin before being distributed to leaders of scam centers in Cambodia.