Latest news with #USDTether
Cision Canada
23-07-2025
- Business
- Cision Canada
RCMP recover 460,000 USD Tether in cryptocurrency for fraud victim Français
OTTAWA, ON, July 23, 2025 /CNW/ - The RCMP Federal Policing Criminal Operations - Virtual Assets team at National Headquarters have recovered approximately 460,000 USD Tether (USDT) in cryptocurrency after an Ontario resident was targeted by a sophisticated investment fraud. 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 or by phone (1-888-495-8501). Fast Facts: Cryptocurrency is increasingly a factor in investment frauds. In these cases, victims are introduced to cryptocurrency-related investments via social media, phone calls, online advertisements, and online dating platforms. Using spoofed websites and mobile applications with fake trades and profits, the victims are encouraged to invest money on the investing platform. When the victim attempts to withdraw their investments, they are typically asked for more money for taxes and other fees. Eventually, the perpetrators stops communicating with the victim and the victim realizes they have been defrauded of all the money they believed they were investing. Cryptocurrencies bring new and enhanced legal and technical challenges for law enforcement. Unique procedures and authorities are required to search for, seize and transfer cryptocurrency, as well as enhanced diligence to safeguard these assets when handling and disclosing information. The RCMP coordination centre on virtual assets (cryptocurrency) was created in Federal Policing Criminal Operations, Financial Crime, to enable the RCMP to adapt and be prepared to work operationally in this environment. The centre has dedicated cryptocurrency employees who ensure that the RCMP stays current with trends and training. These employees also provide guidance to investigators across the country.
Indian Express
23-07-2025
- Indian Express
Bengaluru police arrest 15 men for luring businessmen with cryptocurrency scheme, staging robbery to steal cash
Fifteen members of a gang that allegedly lured businessmen to invest in cryptocurrency schemes with promises of doubling their money and then stole the cash by staging robberies have been arrested, the Bengaluru police said on Tuesday. According to the police, the scam came to light when a man approached the Vidyaranyapura police on June 26, saying he was robbed of Rs 2 crore during a business transaction. When the police began investigating, they allegedly realised that the complaint was a ruse to misguide them. Seemant Kumar Singh, Police Commissioner of Bengaluru, stated on Tuesday that the investigation revealed the accused had split their gang into two groups. The first group allegedly approached wealthy businessmen, built trust, and then offered to convert their excess, unaccounted cash into cryptocurrency, particularly USD Tether. They allegedly promised to double the investment and reroute funds through RTGS transactions, and also offered GST benefits. Once the businessmen were convinced and agreed to convert their black money into white, the second group staged a robbery while the cash transaction was taking place, the police said. According to the police, in the June 26 case, the gang allegedly targeted businessmen Bharath Singh from Bengaluru and Abhishek from Mangaluru, offering to convert Rs 2 crore through the cryptocurrency scheme. The police recovered Rs 1.11 crore in cash and seized several assets, including four cars, four two-wheelers, two autorickshaws, multiple weapons (two knives, one long knife, one machete), and eight mobile phones from the accused. The police identified the accused as Benjamin Harsha, 45, from Yelahanka; Rakshith M, 29, from Tumakuru; Chandra Shekar HS, 58, from Bagalagunte; Syed Akeeb Pasha alias Akeeb Pasha, 30, from Vidyaranyapura; Mohammed Suhail, 28, Salman Khan, 32, and Muheeb S, 30, from Vidyaranyapura; Mohsin Khan, 32, from Chamarajpet; Salman Khan, 35, from Banashankari; Shreeharsha V, 33, from Kengeri; Syed Amjod, 31 and Syed Afrid, 27, from MS Palya; Syed Wasim, 23, from KR Puram; Sheikh Wasim, 33, from Vinayak Nagar and Mohammed Ateeq, 38, from Kumaraswamy Layout. Many of the arrested suspects have previous criminal records, the police said, adding that four accused—Sandeep, Sheikh Saadu, Rakesh, and Mohammed Shabir—are absconding.
Mid East Info
02-05-2025
- Business
- Mid East Info
DKK Digital Granted Full VARA License, Accelerating Regulated Web3 Expansion in Dubai - Middle East Business News and Information
Dubai, UAE – May 2025 – DKK Digital FZE, a Dubai based subsidiary of DKK Partners based in London, has secured full regulatory approval from the Dubai Virtual Assets Regulatory Authority (VARA) to operate as a licensed Virtual Asset Service Provider (VASP) Broker/Dealer. This significant milestone positions DKK Digital as one of the selected licensed entities authorized to operate within Dubai's rapidly growing virtual asset ecosystem. As a licensed VASP under VARA's globally recognized framework, DKK Digital is now authorized to offer a comprehensive suite of regulated digital asset services, including fiat on/off ramp infrastructure and liquidity provision for stablecoins such as Electronic Dirham (EAED), USD Tether (USDT), USD Coin (USDC), and Ripple USD (XRP). DKK Digital plans to immediately scale its operations in the UAE, further developing solutions for institutional clients, retail investors and ecosystem partners across the Middle East and beyond. Khalid Talukder, Co-Founder & CEO of DKK Digital commented: 'Receiving full regulatory approval from VARA is a major milestone for DKK Digital and a strong validation of our commitment to building within a compliant and forward-thinking framework while contributing to Dubai's vision as a global hub for blockchain and Web3 innovation. Dubai is quickly becoming a global hub for digital asset innovation, and we're proud to be among the first to meet the high standards set by VARA. This license enables us to officially operate as a regulated Broker/Dealer VASP and further strengthens our ability to deliver secure, institutional-grade digital asset solutions across the region and beyond.' This regulatory green light empowers DKK Digital to solidify its presence in the UAE and for future expansion across the GCC, offering their clients quick, secure access to stablecoin solutions. The firm's approval also reinforces its capacity to build robust partnerships with banks, fintech companies and financial institutions across the regions, enabling regulated services for cross-border settlements, FX markets and treasury operations. With this license, DKK Digital further affirms its commitment to Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) compliance under one of the most advanced regulatory regimes globally. About DKK Digital: DKK Digital FZE is a UAE-based digital asset firm and an owned subsidiary of DKK Partners based in London. Focused on bridging traditional finance (TradFi) and decentralized finance (DeFi), DKK Digital delivers quick, secure access to digital asset solutions. With a strong commitment to regulatory compliance and innovation, the company plays a key role in shaping the future of Web3 finance across the Middle East and beyond. As a trusted leader in the stablecoin space, our mission is to provide secure, seamless, and innovative solutions that empower individuals and businesses to thrive in a decentralized economy. Harnessing cutting-edge blockchain technology, we offer infrastructure built for speed, security, and scalability whether you're trading, storing or building on digital assets. Our platform features unmatched security through advanced encryption, multi-factor authentication and asset storage via regulated custodians.
Zawya
01-05-2025
- Business
- Zawya
DKK Digital granted full VARA license, accelerating regulated Web3 expansion in Dubai
Dubai, UAE – DKK Digital FZE, a Dubai based subsidiary of DKK Partners based in London, has secured full regulatory approval from the Dubai Virtual Assets Regulatory Authority (VARA) to operate as a licensed Virtual Asset Service Provider (VASP) Broker/Dealer. This significant milestone positions DKK Digital as one of the selected licensed entities authorized to operate within Dubai's rapidly growing virtual asset ecosystem. As a licensed VASP under VARA's globally recognized framework, DKK Digital is now authorized to offer a comprehensive suite of regulated digital asset services, including fiat on/off ramp infrastructure and liquidity provision for stablecoins such as Electronic Dirham (EAED), USD Tether (USDT), USD Coin (USDC), and Ripple USD (XRP). DKK Digital plans to immediately scale its operations in the UAE, further developing solutions for institutional clients, retail investors and ecosystem partners across the Middle East and beyond. Khalid Talukder, Co-Founder & CEO of DKK Digital commented: 'Receiving full regulatory approval from VARA is a major milestone for DKK Digital and a strong validation of our commitment to building within a compliant and forward-thinking framework while contributing to Dubai's vision as a global hub for blockchain and Web3 innovation. Dubai is quickly becoming a global hub for digital asset innovation, and we're proud to be among the first to meet the high standards set by VARA. This license enables us to officially operate as a regulated Broker/Dealer VASP and further strengthens our ability to deliver secure, institutional-grade digital asset solutions across the region and beyond.' This regulatory green light empowers DKK Digital to solidify its presence in the UAE and for future expansion across the GCC, offering their clients quick, secure access to stablecoin solutions. The firm's approval also reinforces its capacity to build robust partnerships with banks, fintech companies and financial institutions across the regions, enabling regulated services for cross-border settlements, FX markets and treasury operations. With this license, DKK Digital further affirms its commitment to Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) compliance under one of the most advanced regulatory regimes globally. About DKK Digital: DKK Digital FZE is a UAE-based digital asset firm and an owned subsidiary of DKK Partners based in London. Focused on bridging traditional finance (TradFi) and decentralized finance (DeFi), DKK Digital delivers quick, secure access to digital asset solutions. With a strong commitment to regulatory compliance and innovation, the company plays a key role in shaping the future of Web3 finance across the Middle East and beyond. As a trusted leader in the stablecoin space, our mission is to provide secure, seamless, and innovative solutions that empower individuals and businesses to thrive in a decentralized economy. Harnessing cutting-edge blockchain technology, we offer infrastructure built for speed, security, and scalability whether you're trading, storing or building on digital assets. Our platform features unmatched security through advanced encryption, multi-factor authentication and asset storage via regulated custodians. Media Contact: Shanice Khalef E:
