Tether Freezes $225 Million in USDT Linked to Human Trafficking Ring
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Tether froze $225 million worth of USDT linked to a human trafficking syndicate in Southeast Asia.
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The freeze was done voluntarily by Tether after an investigation with the US Department of Justice and OKX exchange.
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The human trafficking scam known as "pig butchering" targets victims with false promises of high investment returns.
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The frozen funds belonged to secondary wallets not associated with Tether's customers.
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Tether's actions show centralized authorities can help deter criminal uses of crypto, but may reduce decentralization.