USDT issuer – Tether has conducted the largest-ever freeze in history, blacklisting $225 million linked to human trafficking.

While many consider crypto the most preferable mode of transaction for criminals, proactive actions by crypto firms prove otherwise.

How Tether Collaborated With Other Companies to Freeze 225 Million USDT 

Tether announced that it has worked with the OKX crypto exchange and the United States Department of Justice (DoJ) to block a human trafficking syndicate’s access to the USDT stablecoin. 

Tether took the help of the blockchain analysis firm – Chainalysis to track the location of the funds. The joint investigation lasted approximately one month, and then the United States Secret Service instructed Tether to freeze the funds. 

Read more: How To Evaluate Cryptocurrencies with On-chain & Fundamental Analysis.

The 225 million were linked to a Southeast Asia human trafficking syndicate that conducted “pig butchering” scams. The screenshot below shows that one of the criminals’ wallets had over 87.4 million USDT, which is now blacklisted by Tether.

The United States Secret Service has also been trying to raise awareness about pig butchering in Pennsylvania’s largest city – Philadelphia.

Pig butchering is a crime where victims’ money is stolen by promising them exposure to certain inves

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Author: Harsh Notariya

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