Tether Freezes $225 Million in USDT Linked to Human Trafficking Syndicate After DOJ Investigation
-
Tether froze $225 million worth of USDT stablecoins linked to a human trafficking syndicate in Southeast Asia. This followed an investigation by the US Department of Justice.
-
The DOJ investigation used blockchain analysis tools from Chainalysis. It's the largest ever stablecoin freeze.
-
The syndicate was linked to the "pig butchering" scam which the FBI said cost US citizens $3.3 billion last year.
-
The frozen tokens were held in self-custodied wallets, not belonging to Tether customers.
-
Tether aims to set a new standard for safety in crypto through cooperation with law enforcement and commitment to transparency.