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Tether freezes $255 million worth of USDT after authorities link funds to crime ring

Published: December 4, 2023

Written by:barnaby

USDT on the move now frozen in transit 

Tether has frozen around $225 million worth of its USDT stablecoins following allegations by U.S. authorities that the funds were linked to an international human trafficking ring.

Tether’s swift actions in freezing the funds were praised by the crypto community with little scrutiny.

The freeze affected several wallets suspected of being involved in the crime operation. Many were surprised by Tether’s quick actions and how closely they were working with the authorities.

The event is a reminder of the importance of regulatory compliance in the cryptocurrency industry and how it can prevent bad actors.

It also highlights the capabilities of blockchain network technology to provide transparency and stop those engaged in illegal activities.

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