By Philip Maina
4 weeks agoTue Nov 21 2023 11:36:54
Checking out Time: 2 minutes
- Tether has actually frozen over $200 million in USDT connected to the pig butchering fraud targeting individuals in Southeast Asia
- Tether dealt with crypto exchange OKX and the United States Department of Justice
- The freezing comes at a time when the U.S. DOJ is examining the human trafficking distribute
Stablecoin company Tether has actually frozen over $200 million in USDT connected to the Southeast Asian human trafficking distribute. The freezing was enabled through the cooperation of the stablecoin provider, OKX crypto exchange and the United States Department of Justice (DOJ), which has actually been examining the fraud. Tether revealed that it thaw some funds that were incorrectly believed to become part of the distribute, an indicator that police are improving at tracking crypto payments.
$225 Million Held in 37 Wallets
In a declaration, Tether stated that the examinations were performed with the assistance of blockchain analysis company Chainalysis. On-chain information reveal that the frozen quantity was $225 million spread throughout 37 wallets with among the wallets holding $87.5 million.
