Tether, OKX, and DOJ Halt $225 Million in Suspected Criminal Crypto Activity

Cryptocurrency giant Tether, in collaboration with the U.S. Department of Justice and OKX, voluntarily froze $225 million in illicit proceeds linked to a criminal organization in Southeast Asia. Paolo Ardoino, CEO of Tether, emphasized that this collaboration aims to set a new standard for a secure crypto environment.

Tether, one of the leading companies in the crypto ecosystem, has taken an important step against a criminal organization linked to an international human trafficking syndicate in Southeast Asia, by collaborating with the US Department of Justice (DOJ) and the global crypto exchange OKX. Tether voluntarily froze approximately 225 million USDT tokens, confirming that this amount was proceeds of crime.

According to Tether’s statements, the joint investigation with the US Department of Justice was carried out with the tools of blockchain analysis firm Chainalytic and was recorded as the largest USDT freeze in history.

“Through proactive engagement with global law enforcement and our commitment to transparency, Tether aims to set a new standard for security in the crypto space,” Tether CEO Paolo Ardoino said in a statement. Ardoino also underlined how important cooperation with the Ministry of Justice is in fighting illegal activities.

During the two companies’ months-long investigative efforts, the Department of Justice, including U.S. law enforcement, helped locate the proceeds of crime by analyzing fund flows through the blockchain. As a result of this process, Tether was allowed to voluntarily freeze $225 million of criminal proceeds.

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