08.02.2026 09:40
The world's largest stablecoin issuer, Tether, has made one of the largest operations in crypto history by freezing over $500 million in digital assets linked to illegal betting and money laundering networks in Turkey. The company has changed the dynamics in the industry with its new role collaborating with global law enforcement agencies.
In a large-scale investigation into illegal betting and money laundering conducted in Turkey, Tether, the world's largest stablecoin issuer, has carried out one of the largest asset freezing operations ever seen in the cryptocurrency sector. It has been reported that the frozen funds are linked to a large-scale illegal betting and money laundering network managed by Turkish prosecutors.
ONE OF THE HISTORIC OPERATIONS
According to information reported by Bloomberg and international crypto media, it is claimed that the assets targeted in the operation belong to an individual named Veysel Şahin, who is alleged to manage a comprehensive illegal betting network operating throughout Turkey. This move is considered one of the largest asset seizures ever carried out in the crypto sector in a single operation.
TETHER CEO: WE COLLABORATED WITH AUTHORITIES
Tether CEO Paolo Ardoino explicitly confirmed the company's role in the operation. Ardoino stated that law enforcement provided them with official information, saying, "Authorities came to us, shared the information. We reviewed this information and acted in accordance with the country's laws. This is exactly what we did while working with the U.S. Department of Justice and the FBI." This statement has been interpreted as a significant turning point in the discussions about Tether's past criticisms regarding transparency and lack of oversight. The British Virgin Islands-based company has recently positioned itself as an active partner of global law enforcement agencies.
FREEZING MOVE EXCEEDING 3 BILLION DOLLARS
Tether did not limit itself to this operation alone. The company announced that it froze more than 180 million dollars worth of USDT assets in various investigations within 2025. It has been reported that the total amount of assets frozen since its establishment has exceeded 3 billion dollars. With a circulating supply of over 187 billion dollars, USDT serves as the main liquidity source of the global crypto market. According to previous reports by BeInCrypto, USDT serves more than 534 million users worldwide and allows investors to transfer funds quickly between exchanges without needing the traditional banking system.
THE "CENSORSHIP-RESISTANT" CRYPTO PERCEPTION SHAKEN
These increasing interventions in recent times have seriously damaged the perception of cryptocurrencies as "censorship-resistant," which has been defended for many years. Experts believe that Tether's unprecedented steps in terms of speed and scale have opened the door to a new era of regulation in the digital asset sector.
RECORD PROFITS, NEW INVESTMENTS
On the other hand, Tether is rapidly expanding its operations following a record financial year. The company recently announced a strategic investment of 150 million dollars in Gold.com and 100 million dollars in Anchorage Digital, the first federally licensed digital asset bank in the U.S. Earning 10 billion dollars in profit in 2025, Tether is now utilizing capital across a wide range of areas, not only in the stablecoin sector but also in sports investments, Bitcoin mining, decentralized communication technologies, and artificial intelligence projects.