RCMP recover 460,000 USD Tether in cryptocurrency for fraud victim
After obtaining a Special Warrant for Digital Assets, on July 3 the RCMP seized 460,000 USDT—valued at approximately $640,000 CAD—as the proceeds of crime.
RCMP Federal Policing Criminal Operations Sergeant Ryan Berry remarked that prompt reporting by the victim helped officers recover the funds.
'In cases of stolen cryptocurrency, timing is everything,' Berry said. 'Given the speed at which cryptocurrency assets can be transferred, the sooner investigators begin following the transactions, the higher the likelihood of interdiction and seizure during the money laundering process.'
Berry noted that cooperation from Tether International, S.A. de C.V. also contributed to the successful operation.
'Collaboration and assistance from the private sector are paramount in cryptocurrency investigations,' he said. 'The voluntary assistance of Tether was instrumental in the seizure and recovery of these funds.'
The RCMP urges Canadians to remain vigilant when considering online investment opportunities and to report thefts and frauds to their local police. Suspected fraud can also be reported to the Canadian Anti-Fraud Centre either online at https://antifraudcentre.ca/report-signalez-eng.htm or by phone (1-888-495-8501).
Fast Facts:
Link: https://rcmp.ca/en/news/2025/07/rcmp-recover-460000-usd-tether-cryptocurrency-fraud-victim
SOURCE Royal Canadian Mounted Police Media Relations and Issues Management
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