USDT Fraud Prevention: $74 Million in Crypto Scams Thwarted by Cross-Border Collaboration
In a significant crackdown on cryptocurrency fraud, Chainalysis partnered with US and Canadian law enforcement to disrupt over $74 million in scams through two major operations. Project Atlas, led by the Ontario Provincial Police, prevented $70 million in potential theft and identified more than 2,000 fraudulent wallets across 14 countries. Collaborating with Tether, investigators successfully froze $50 million in USDT linked to fraudulent activities. This operation highlights the growing importance of cross-border cooperation in combating crypto-related crimes and safeguarding investor assets.
$74 Million in Crypto Scams Thwarted by Cross-Border Operations
Chainalysis collaborated with US and Canadian law enforcement to disrupt over $74 million in cryptocurrency fraud through two major operations. Project Atlas, spearheaded by the Ontario Provincial Police, prevented $70 million in potential theft and identified more than 2,000 fraudulent wallets across 14 countries.
Working with Tether, investigators froze $50 million in USDT tied to scams. The operation involved eight police forces alongside private sector partners Ndax and Coinbase. Meanwhile, Operation Avalanche uncovered $4.3 million in Ethereum-based scams targeting North American victims.
The Royal Canadian Mounted Police and US Secret Service played pivotal roles in these coordinated efforts. These cases demonstrate growing international cooperation to combat crypto-related crime as digital asset adoption expands.
Justin Sun Sues Bloomberg Over Alleged Misrepresentation of TRX Holdings
TRON founder Justin Sun has initiated legal action against Bloomberg following a report that claimed he controls 60% of all TRX tokens in circulation. The lawsuit, filed as a restraining order, seeks removal of his profile from the Bloomberg Billionaires Index, which estimates his net worth at $12.4 billion—primarily in TRX holdings.
Sun alleges Bloomberg breached an agreement to keep his wallet addresses confidential, potentially exposing him to security risks. The disputed profile attributes 60 billion TRX, 17,000 BTC, and 224,000 ETH to Sun, claims he vehemently denies without providing alternative figures. Legal representatives state Bloomberg misrepresented both included and excluded cryptocurrency assets.
The case highlights growing tensions between crypto entrepreneurs and traditional financial media over disclosure practices. Sun's objection centers on the safety implications of publishing wallet information, citing risks of targeted hacks and physical threats—a concern amplified by his high-profile status in the blockchain industry.
Plasma Blockchain Introduces Feeless USDT Transfers to Tackle Stablecoin Fee Crisis
Tether's USDT has emerged as the unspoken infrastructure of crypto transactions, representing 40% of blockchain fees across nine major networks in 2025. While whales remain unaffected, retail users face prohibitive costs—sending $10 worth of USDT on ethereum or Tron often incurs higher gas fees than the transaction value itself.
The Plasma blockchain enters as a potential solution with zero-fee USDT transfers, combining EVM compatibility with enterprise-grade security. This innovation arrives as stablecoin fees reach critical pain points: Ethereum battles unpredictable gas spikes while Tron—processing 60% of all stablecoin transfers—now charges over $7 per USDT transaction amidst its $81 billion stablecoin volume.
Market dynamics reveal a paradox—stablecoins gained adoption for fiat-like stability and crypto-native speed, but fee structures now threaten their utility as payment rails. Plasma's feeless model could recalibrate this equilibrium, particularly for SMEs and cross-border transactions where microtransactions remain economically unviable on legacy networks.
