Tether, OKX collaborate with DOJ to seize record $225M in illicit USDT funds

• Tether and OKX have partnered with the U.S. Department of Justice to freeze $225 million worth of USDT, the largest-ever freeze of USDT in history.
• The frozen funds were linked to an international human trafficking syndicate in Southeast Asia involved in a romance scam.
• Chainalysis, a blockchain analytics firm, facilitated the investigation that led to the freezing of the wallets.
• Tether clarified that the frozen wallets are not directly tied to its customers and committed to working with law enforcement and the wallet owners to resolve the situation.
• This development aligns with recent efforts by crypto-related entities to deter unlawful fund transfers through cryptocurrencies.
• Tether has previously frozen funds connected to illicit activities in Israel and Ukraine and seized assets associated with thefts and other unlawful activities.
• Tether aims to establish higher safety standards in the crypto sphere and emphasizes the importance of technology and collaborations to combat unlawful activities.
• OKX's Chief Innovation Officer highlighted the exchange's commitment to partnering with law enforcement and industry stakeholders to foster trust and contribute to public welfare.
• Tether has emerged as the leader in the stablecoin space, with a circulating supply of nearly 88 billion and a market dominance of 70%.

The article highlights the partnership between Tether, OKX, and the U.S. Department of Justice to freeze funds linked to an international human trafficking syndicate. It emphasizes the commitment of these entities to combat unlawful activities and establish higher safety standards in the crypto sphere. The sentiment is positive, as it showcases efforts to deter illicit fund transfers and foster trust in the industry.