The most popular cryptocurrency among criminals and terrorists has been named

The United Nations Office on Drugs and Crime (UNODC) has published a report on the use of cryptocurrencies by criminals and terrorists. As it turned out, the stablecoin Tether (USDT) plays a significant role in illegal activities.

According to the UN, the stablecoin USDT is one of the most popular means of payment among criminal groups in Southeast Asia. Criminals use the asset for money laundering and operating illegal online casino platforms.

«Online casino platforms, especially those that operate illegally, have become one of the most popular means of cryptocurrency-based money laundering, especially for those using Tether ,» the UN report says.

The actual extent of USDT’s involvement in illegal transactions remains unknown. However, the organization emphasized that stablecoin is very popular in underground fraud. In particular, this applies to the pig butchering scheme, in which criminals fraudulently force people to invest in a fictitious business.

Tether representatives responded to the UN statements by emphasizing their cooperation with law enforcement agencies, the Department of Justice, the FBI, and the USSS. In December, the company adopted a new wallet freeze policy to help law enforcement in the fight against the illegal use of stablecoins.

Tether currently cooperates with 19 jurisdictions around the world. In the middle of last month, at the request of the authorities, the company froze 326 wallets with a total balance of $ 435 million.