Singapore Naval Diver Sentenced for $1.7 Million $USDT Theft
A former Singaporean naval diver was sentenced for stealing $USDT from a friend's cold wallet during the FTX cryptocurrency exchange collapse. The diver exploited his relationship with the victim to access the wallet. Recovery status of the stolen $USDT was not reported.
Digital Asset Security and Tether's Enforcement Actions
In the 30 days prior to reports of the diver's theft, Tether, $USDT's issuer, froze funds across 370 distinct wallets, primarily on the Tron network. On-chain tracking data from BlockSec indicates that the total value of blacklisted $USDT addresses reached $1.26 billion across 4,163 addresses by 2025.
$USDT Implicated in Ransom and Espionage Cases
In Malaysia, three Korean men demanded a 10 million $USDT ransom in a kidnapping case; 3 million $USDT was transferred, and police recovered 2.46 million $USDT. Separately, Taiwan prosecutors indicted a former TV news host and six military personnel on espionage charges, alleging $USDT payments for producing propaganda and obtaining classified military information.