Tether freezes $225M in USDT linked to romance scammers amid DOJ investigation
Summary
Tether has frozen around $225 million of its stablecoin, USDT, linked to a human trafficking syndicate in Southeast Asia, following cooperation with the US Department of Justice (DOJ), OKX, and other US law enforcement authorities. The funds were allegedly used in a "pig butchering" scam, where online relationships are manipulated to con individuals into illegitimate investments. Tether states that lawful wallets unintentionally seized will be unfrozen. This recent action marks the largest sum ever frozen by Tether in its history against crime syndicates. Unlike decentralized cryptocurrencies, Tether and other stablecoins can freeze and halt transactions when required by law enforcement.
