Cybercriminals in the Indian state of Rajasthan have been using stablecoins, specifically Tether (USDT), to send illicit funds to scam operators outside of the country. Law enforcement has arrested money mules who were involved in converting over INR 1 crore (approximately $115,546) into USDT and then funneling it to international cybercriminal networks. The funds were sourced from digital scams and routed through local mules into cryptocurrency before being sent to exchanges in Dubai and France. It is speculated that the masterminds behind these scams are operating from these countries. USDT has been a preferred choice for scammers due to its stability, liquidity, and pseudo-anonymity. Tether has come under scrutiny for facilitating illegal activities, and in response, it has been working on developing a transaction monitoring platform and establishing a financial crime unit to combat such cases.



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