Tether And Okx Freeze Millions Of Usdt

The company made this decision as part of an investigation conducted by the U.S. Department of Justice.

Tether announced that it has frozen approximately $225 million worth of USDT tokens in collaboration with the U.S. Department of Justice (DOJ) as part of an investigation into a human trafficking organization in Southeast Asia.

In a statement made on November 20, Tether stated that it worked with the DOJ and the crypto exchange OKX to freeze $225 million worth of USDT. The company indicated that these illegal funds were used by an organization involved in "romance fraud." This organization establishes online relationships with unsuspecting individuals and persuades them to invest through deception.

Tether emphasized that the freezing of USDT was part of a months-long investigation into the location of funds involving OKX, the DOJ, and law enforcement agencies. The company expressed its intention to collaborate with U.S. authorities to separate legally seized wallets.

Paolo Ardoino, CEO of Tether, stated, "Through proactive relationships with global law enforcement and our commitment to transparency, Tether aims to set a new standard for security in the crypto space."

Ardoino also added, "Our recent collaboration with the Department of Justice underscores our commitment to creating a secure environment... We want to continue leveraging our relationships, including technology and our collaboration with OKX, to proactively address illegal activities and maintain the highest standards of integrity in the industry."

Impressive work by @Tether_to and @okx teams, alongside with Law Enforcement to stop bad guys🤝 https://t.co/P0U8ydP91x

— Paolo Ardoino 🍐 (@paoloardoino) November 20, 2023

Tether has collaborated with global law enforcement agencies to freeze assets allegedly linked to criminal organizations. The company, in coordination with the Israel National Counter-Terrorism Financing Bureau, froze $873,000 worth of USDT used to finance terrorist activities in Ukraine.

Tether stated that this action was taken as part of efforts to prevent the financing of criminal organizations. Through collaboration with the Israel National Counter-Terrorism Financing Bureau, the company provided support to international authorities in the fight against terrorism.

This incident serves as an example highlighting Tether's commitment to collaborating with global law enforcement and regulatory agencies in combating financial crimes. Tether continues to uphold its commitment to enhancing security standards in the crypto world and maintaining a strict stance against illegal activities.