Tether Freezes 225M in Stolen USDT Linked to Crime Syndicate
Tether has made a landmark move by freezing approximately 225 million USDT tokens...
- Tether has frozen approximately 225 million USDT tokens in collaboration with OKX and the U.S. Department of Justice (DOJ).
- The freeze is a result of an investigation into an international human trafficking syndicate linked to a romance scam in Southeast Asia.
- This is the largest freeze of USDT in Tether's history.
- The frozen funds will remain inactive during the investigation and are accounted for as liabilities against Tether's reserves.
- The ultimate goal is to return the stolen assets to the victims.
- Once the investigation concludes, the frozen USDT will be permanently removed and new tokens will be issued to maintain the integrity of the Tether ecosystem.
- Freezing digital assets like USDT is an important tool for cryptocurrency issuers to combat illicit activities.
The article highlights Tether's collaboration with OKX and the U.S. Department of Justice to freeze USDT tokens linked to criminal activities. The move is seen as a positive step in aiding law enforcement and protecting the integrity of the Tether ecosystem.