Tether Collaborates with Law Enforcement to Freeze $225 Million in Stolen USDT Linked to Human Trafficking

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Stablecoin issuer Tether has collaborated with the United States Department of Justice and crypto exchange OKX to freeze $225 million worth of stolen USDT. The frozen funds were linked to a human trafficking syndicate operating in Southeast Asia. This marks the largest-ever freeze of stablecoins and highlights the rare occasion where crypto companies and law enforcement work together. The investigation, which used blockchain analysis tools provided by Chainalysis, led to the freezing of the USDT. The majority of the tokens were transferred to OKX, which also participated in the operation. The joint effort between Tether, OKX, US law enforcement agencies, and the DOJ was prompted by the analysis of the flow of funds through the blockchain. This collaboration demonstrates the potential for blockchain transparency to deter illicit activities and sets a new standard for safety in the crypto space. Both Tether and OKX expressed their commitment to proactive engagement with law enforcement agencies and their dedication to upholding the highest standards of integrity in the industry.

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