‘Stablecoins’ Enabled $40 Billion in Crypto Crime Since 2022

WIRED | A report from Chainalysis finds that stablecoins like Tether, tied to the value of the US dollar, were used in the vast majority of crypto-based scam transactions and sanctions evasion in 2023.

“Pig butchering” scams—cons in which scammers typically trick users into sending funds into fraudulent investments—consistently use Tether as the means of bilking victims, says Erin West.

Full article: https://www.wired.com/story/stablecoin-sanctions-violations-crypto-crime/