Tether, the issuer of the USDT stablecoin, has taken a significant step in combating illegal activities in the crypto space. In collaboration with US law enforcement agencies, Tether has conducted a joint investigation targeting a human trafficking organization in Southeast Asia. As a result, Tether has initiated the largest USDT freeze in its history, permanently suspending approximately $225 million USDT held in external custodial wallets connected to the illicit organization. The investigation was carried out with the assistance of the United States Department of Justice (DOJ), OKX centralized exchange, and Chainalysis, an American blockchain analysis firm. The DOJ, using advanced tools provided by Chainalysis, tracked the movement of funds linked to the syndicate through the blockchain, leading to the freeze request to Tether. This action demonstrates Tether’s commitment to ensuring a safe environment for the crypto industry and its dedication to cooperating with law enforcement agencies. Paolo Ardoino, CEO of Tether, expressed the company’s dedication to fostering a secure environment and upholding transparency. Similarly, Jason Lau, Chief Innovation Officer at OKX, emphasized their commitment to actively contributing to initiatives focused on maintaining the safety and integrity of the crypto space. The price of USDT remains pegged to the US dollar.

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Information	Details
Geography	Asia
Countries	🇺🇸
Sentiment	positive
Relevance Score	1
People	Paolo Ardoino, Jason Lau
Companies	Chainalysis, None, United States Department of Justice (DOJ), OKX, Tether
Currencies	US Dollar, Tether
Securities	None