{"id":196306,"date":"2023-11-26T19:39:01","date_gmt":"2023-11-26T19:39:01","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=196306"},"modified":"2023-11-26T19:39:01","modified_gmt":"2023-11-26T19:39:01","slug":"tether-collaborates-with-doj-to-freeze-record-225-million-usdt-linked-to-criminal-activity","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/tether-collaborates-with-doj-to-freeze-record-225-million-usdt-linked-to-criminal-activity\/","title":{"rendered":"Tether Collaborates With DOJ To Freeze Record $225 Million USDT Linked To Criminal Activity"},"content":{"rendered":"<p>Stablecoin issuer Tether has moved to freeze a whopping $225 million believed to belong to an international human trafficking group in Southeast Asia to assist the U.S. Department of Justice.<\/p>\n<h2><strong>No To Human Trafficking: Freezing USDT Related To \u2018Pig Butchering\u2019 Scam<\/strong><\/h2>\n<p>Tether revealed on Monday that it has taken measures to block self-custodied digital wallets holding USDT that were linked to a human trafficking syndicate in Southeast Asia in collaboration with the United States Department of Justice (DOJ).\u00a0<\/p>\n<p>The bad actors were running an expansive \u201cpig butchering\u201d scam. It\u2019s a type of scheme where scammers create an online relationship with unsuspecting individuals and then trick them into sending money for a bogus investment opportunity, much like a farmer fattening up his pigs before taking them to slaughter.<\/p>\n<p>Tether revealed that the freezing of $225 million USDT followed a \u201cmonths-long investigative effort\u201d into the movements of the funds between the firm and crypto exchange OKX using blockchain analysis firm Chainalysis tools. Data from Lookonchain indicates that the $225 million was frozen across 37 wallets. The landmark move marks the biggest-ever freeze of USDT. Tether clarified that the frozen wallets are not directly tied to its customers as they are on the secondary market.<\/p>\n<p>\u201cThrough proactive engagement with global law enforcement agencies and our commitment to transparency, Tether aims to set a new standard for safety within the crypto space,\u201d Tether CEO Paolo Ardoino posited. \u201cOur recent collaboration with the Department of Justice underscores our dedication to fostering a secure environment.\u201d<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/zincable.com\/wp-content\/uploads\/2023\/10\/CB_AffiliateBanner_V3_728\u00d790.png\"><\/p>\n<p>The company said it would \u201cwork quickly\u201d with U.S. authorities to unfreeze any lawful accounts that may have been affected by the operation.<\/p>\n<h2><strong>Collaborative Efforts With Law Enforcement<\/strong><\/h2>\n<p>Tether mints USDT \u2014 the industry\u2019s third-biggest crypto after Bitcoin and Ethereum. The company has in the past worked with global law enforcement agencies to track and freeze assets linked to criminal and terrorist activity. Case in point, Tether collaborated with Israel\u2019s National Bureau for Counter Terror Financing (NBCTF) last month to freeze over $873,000 worth of USDT across 32 addresses tied to terrorism and warfare in Israel and Ukraine.<\/p>\n<p>Notably, OKX\u2019s Chief Innovation Officer, Jason Lau, also highlighted the exchange\u2019s commitment to collaborating with law enforcement and various industry actors to combat crypto-related crime.<\/p>\n<p>\u201cCollaborating with industry stakeholders, including law enforcement agencies, is a key tenet of our approach to building trust and serving the public good as a leader in the crypto industry. At OKX, we will continue to contribute to these initiatives on a proactive basis,\u201d he concluded.<\/p>\n<p>Source: <a href=\"https:\/\/zycrypto.com\/tether-collaborates-with-doj-to-freeze-record-225-million-usdt-linked-to-criminal-activity\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stablecoin issuer Tether has moved to freeze a whopping $225 million believed to belong to&#8230;<\/p>\n","protected":false},"author":4,"featured_media":196305,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tether Collaborates With DOJ To Freeze Record $225 Million USDT Linked To Criminal Activity - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/tether-collaborates-with-doj-to-freeze-record-225-million-usdt-linked-to-criminal-activity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tether Collaborates With DOJ To Freeze Record $225 Million USDT Linked To Criminal Activity - 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