Trouble seems to be brewing for the world’s biggest stablecoin. According to a WSJ report, companies backing Tether were allegedly using fake documents and shell companies to get access to the banking system. Emails and documents were supplied as proof that USDT was linked to traditional financial systems and was being used to open bank accounts.

An email to the Journal revealed that Tether was trying to avoid the banking system by utilizing false invoices and contracts for deposits and withdrawals. Stephen Moore, a co-owner of Tether Holdings Ltd., admitted to this. The bank was then dropped, citing “too much risk”, according to the WSJ. The publication also claimed to have documents indicating that Tether was linked to seized assets and a designated terrorist organization. The U.S. Justice Department is currently investigating the stablecoin.