Crypto giant Tether has frozen $225 million believed to belong to a human trafficking syndicate to assist the U.S. Department of Justice. Tether, which issues the third-largest digital currency USDT, found out about the funds and tracked their movements using blockchain analysis firm Chainalysis tools. After being alerted by OKX and Tether, the U.S. Secret Service asked Tether to freeze the funds. USDT has a market cap of $87.6 billion and is used to enter and exit trades quickly and without using a traditional bank or fiat currency. However, Tether is a controversial company and has been slow to provide documentation to prove that U.S. dollars back USDT. In 2021, Tether agreed to no longer do business in New York after a two-year investigation. This news is good for the crypto community, as it shows the company’s dedication to a secure environment and sets a new standard for safety. #Crypto #Tether #USDT #HumanTrafficking #Justice
You can read more about this topic here: Decrypt: Tether Freezes $225M USDT Feds Say Is Linked to Human Trafficking
