Elliptic chief: Tether and Telegram prop up $442B scam economy

Elliptic’s chief scientist Tom Robinson has called on stablecoin issuer Tether and encrypted messaging app Telegram to do more to stop an online scam industry estimated to have stolen $442 billion last year. Robinson made the plea in an article he wrote for the Royal United Services Institute, a British security and defence think tank. In the piece, Robinson calls on global regulators to demand greater accountability from messaging platforms and stablecoin issuers when it comes to tackling scams and the illegal marketplaces that rely on them. He claims that the problem has reached “epidemic proportions,” and that an estimated…