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USDT stablecoin issuer, Tether has made the largest USDT freeze in its history. The significant move is a result of a joint investigation conducted by Tether in collaboration with US law enforcement agencies targeting a human trafficking organization in Southeast Asia 

Tether Initiates Largest USDT Freeze Crypto firm Tether has initiated a large-scale USDT freeze, permanently suspending approximately $225 million USDT in external custodial wallets connected to an international human trafficking organization operating within Southeast Asia.

Tether has stated that it assisted the United States Department of Justice (DOJ) in its enforcement actions against the illicit trafficking organization found to be a global ‘pig butchering’ romance scam. The investigation was carried out by the DOJ, OKX, a centralized exchange (CEX), and Tether, using advanced tools provided by Chainalysis, an American blockchain analysis firm.

According to Tether, US law enforcement agencies were actively tracking the location of the illegal organization by analyzing the movement of funds linked to the syndicate through the blockchain. 

Upon discovering the wallets connected to the cryptocurrency transactions, the DOJ initiated a freeze request to Tether who promptly executed what it deems presently as the largest freeze in the history of USDT.

Tether Stands Firm Against Illegal Activities In The Crypto Space Tether has stated its decision to continually aid global law enforcement agencies in the eradication of illicit activities and the organizations heading them. Its decision to collaborate with the DOJ demonstrates its firm stance in ensuring the crypto space remains a safe environment for proper growth and development.

Paolo Ardoino, Chief Executive Officer of Tether declared his dedication towards keeping the crypto space safe and upholding transparency. He expressed his commitment by actively cooperating with law enforcement agencies in apprehending illicit organizations

“Our recent assistance to the Department of Justice underscores our dedication to fostering a secure environment. We believe in leveraging technology and relationships, such as our collaboration with OKX, to proactively address illicit activities and uphold the highest standards of integrity in the industry. Through proactive engagement with global law enforcement agencies and our commitment to transparency, Tether aims to set a new standard for safety within the crypto space,” Ardoino stated.

Chief Innovation Officer at OKX Jason Lau also emphasized his commitment towards actively contributing to initiatives focused on keeping the safety and the integrity of the crypto space intact. 

“Collaborating with industry stakeholders, including law enforcement agencies, is a key tenet of our approach to building trust and serving the public good as a leader in the crypto industry. At OKX, we will continue to contribute to these initiatives on a proactive basis,” Lau said. 

USDT price remains pegged to US dollar | Source: USDT/USD on Featured image from StormGain, chart from

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Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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February 2024


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