Tether Freezes $225M in USDT Linked to Human Trafficking Group

In a significant move against international crime, USDT stablecoin issuer Tether has "proactively and voluntarily" frozen around $225 million worth of its stablecoin. This action, representing the largest-ever freeze of USDT in history, targets self-custodied wallets linked to a human trafficking syndicate.

The freezing of the USDT was done to counter the trafficking group behind a global “pig butchering” scam, a sophisticated form of online fraud. Stablecoin issuer Tether has decided to “voluntarily freeze” 225 million in $USDT found to be connected to an international crime syndicate. This was uncovered by the U.S. Department of Justice (DOJ), leading to a joint investigation conducted using tools from blockchain analysis firm Chainalysis.

The Stablecoin issuer Tether has frozen $225 million worth of its stablecoin following an investigation by the U.S. Department of Justice (DOJ) into an international human trafficking operation. According to on-chain data from Lookonchain, Tether froze $225 million in USDT across multiple wallets believed to be controlled by the criminal enterprise.

USDT stablecoin issuer Tether and crypto exchange OKX have collaborated with the United States Department of Justice (DOJ) to freeze approximately $225 million in USDT. This collaborative effort demonstrates the commitment of key players in the crypto industry to combat illicit activities and protect users from financial exploitation.