Tether and OKX team up with the U.S. Department of Justice to freeze $225 million USDT to combat "pig slaughtering scams" emotional fraud!

The issuer of USDT, Tether, along with the cryptocurrency exchange OKX, recently announced their collaboration with the U.S. Department of Justice to investigate a major international crime. In this operation, Tether voluntarily froze approximately $225 million worth of USDT, demonstrating a strong stance within the cryptocurrency industry against illegal activities.

Tether and OKX Joint Action to Intercept Illegal Funds

In a recent investigation led by the U.S. Department of Justice, Tether and OKX played crucial roles by collaborating to trace funds linked to an international human trafficking group in Southeast Asia, which was involved in a global "pig slaughter" emotional fraud operation. The freezing of these wallets is seen as a significant victory for blockchain technology in combating criminal activities.

This investigation extensively utilized tools from blockchain analysis company Chainalysis, highlighting the importance of blockchain transaction transparency in combating illicit activities. The collaboration between Tether and OKX, along with their close cooperation with law enforcement agencies, marks a new chapter in the cryptocurrency industry's fight against illegal activities.

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Tether and OKX's Security Commitment

Tether's CEO, Paolo Ardoino, reiterated the company's commitment to establishing a secure cryptocurrency environment, emphasizing the importance of transparency and global cooperation. Jason Lau, Chief Operating Officer of OKX, also stated that cooperation with law enforcement agencies is crucial for the healthy development of the cryptocurrency industry.

Tether Declares Compliance

Tether stated that in order to ensure industry integrity, it strictly adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols. Through due diligence processes, they ensure that no transactions are conducted with individuals or entities sanctioned by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC).

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