Tether, OKX Strike At 'Pig Butchering' Scam With $225M Freeze

Benzinga ·  11/21/2023 01:01

Stablecoin issuer Tether (CRYPTO: USDT), in collaboration with crypto exchange OKX, Monday announced the freezing of approximately $225 million in USDT tokens that were identified in external self-custody wallets linked to a Southeast Asian human trafficking syndicate involved in a pig butchering scam. The operation, a result of a joint investigation with the U.S. Department of Justice (DOJ), marks the largest-ever freeze of USDT in the history of Tether. Utilizing analytical tools from blockchain analysis firm Chainalysis, Tether, and OKX were able to trace and identify the illicit funds on the blockchain. This discovery led to a proactive

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