Can Tether Help the PNP Freeze More USDT Ransom Funds From the Anson Que Case?

The Philippine National Police (PNP) is making progress in freezing the cryptocurrency used by criminals, but there are still hurdles to overcome, especially when dealing with foreign-based crypto platforms.

In an interview with reporters, Police Lieutenant General Vicente Mena Ma Vera, deputy chief of the PNP for operations, confirmed that they have so far frozen $79,800 in $USDT with the assistance of a foreign entity.

This is part of their ongoing efforts to recover the ₱200 million ransom money paid to the kidnappers of Anson Que, a son of a prominent Chinese businessman. Que was kidnapped and later murdered by the kidnappers despite the ransom being paid.

The police are now planning to enlist the help of Tether, the issuer of $USDT, to freeze more of the cryptocurrency that was used by the kidnappers.

“We are going to enlist the cooperation of Tether to freeze the funds in their books. We will be able to identify the specific USDT wallet addresses involved and provide that information to Tether for their action,” said Police Lieutenant General Vicente Mena Ma Vera, deputy chief of the PNP for operations.

How Cryptocurrency Was Used in Anson Que Case

Earlier, Philippine authorities unveiled how cryptocurrency was employed by a Chinese crime group to launder ransom payments in a high-profile kidnap-murder case.

PNP disclosed that the ransom money, amounting to ภูมิ 200 million, was channeled through unregistered e-wallets linked to casino junket operators—9 Dynasty and White Horse—which were not licensed with the Bangko Sentral ng Pilipinas (BSP) or the AMLC. These funds were then converted into cryptocurrency and routed through several digital platforms.

Two locally licensed virtual asset service providers (VASPs) were then subpoenaed in connection with the case. Authorities confirmed that these VASPs cooperated and provided know-your-customer (KYC) information on the involved accounts.

However, foreign exchanges and unregistered crypto platforms posed challenges due to their lack of regulatory oversight and transparency. Despite this, with assistance from an international VASP, around