Last Updated on November 20, 2023 by COINBUZZFEED
Tether and OKX have joined forces with the United States Department of Justice (DOJ) to execute the largest-ever freeze of USDT tokens in history. The collaborative effort has successfully frozen 225 million USDT tokens associated with an international human trafficking syndicate operating in Southeast Asia. This syndicate is allegedly responsible for orchestrating a widespread “pig butchering” romance scam that has affected victims globally.
Tether and OKX, two prominent players in the cryptocurrency space, took decisive action in cooperation with the DOJ to curb the activities of the human trafficking syndicate. The 225 million USDT tokens frozen represent a significant blow to the illicit operations of the scam network.
the freeze of 225 million USDT tokens marks a pivotal moment in the regulation of the cryptocurrency market. Balancing the need for AML measures with user privacy and addressing the potential misuse of cryptocurrencies remains a challenge. The actions of Tether and OKX, in collaboration with the DOJ, set a precedent for future regulatory interventions, shaping the future landscape of the crypto industry.
