Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
    Squid Game Season 3
    Videos

    Squid Game Season 3: Final Trailer Unveils Epic Plot

    June 14, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Tether Freezes $225 Million in Cryptocurrency Linked to Human Trafficking Ring
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Tether CryptocurrencyThe Tether cryptocurrency. (Infobae/Jovani Pérez)
PhotoNews Pakistan > Business > Tether Freezes $225 Million in Cryptocurrency Linked to Human Trafficking Ring
BusinessTech

Tether Freezes $225 Million in Cryptocurrency Linked to Human Trafficking Ring

Web Desk
By Web Desk Published November 21, 2023 2 Min Read
Share
The Tether cryptocurrency. Photo: Infobae / Jovani Pérez
SHARE

Crypto firm Tether announced on Monday the freezing of $225 million worth of its cryptocurrency, which was purportedly connected to a human trafficking group in Southeast Asia.

The action followed a request by the U.S. Secret Service amid an extensive investigative effort involving Tether and crypto exchange OKX. Tether’s blog post did not specify the investigation details, including its scope and duration.

Just In

Tether, one of the largest and widest Stablecoins company in cryptocurrency market and Web3 technology OKX just announced today that they have collaborated with USA government (DOJ) to freeze 225 million in USDT (3 Triliun IDR) or 12,437,325,000 PHP due to linked with… pic.twitter.com/RTOn7Jm0yo

— Nu Brave (@NuBraveIN) November 20, 2023

Tether reported its collaboration with the U.S. Department of Justice (DOJ) in the investigation but did not elaborate further. The DOJ has not yet responded to requests for comment.

The cryptocurrency involved was tied to an international human trafficking syndicate in Southeast Asia, responsible for a “pig butchering” romance scam—a term referring to scammers who build trust through social media or dating apps before pressuring victims into bogus crypto investments.

This freeze represents the largest such action by Tether to date. The move comes amidst a broader context of human trafficking in Southeast Asia, as reported by the United Nations in August.

Tether, a stablecoin pegged to the U.S. dollar, is a significant player in the cryptocurrency market, with $87.9 billion tether tokens in circulation, ranking it as the third-largest cryptocurrency after bitcoin and ether, according to CoinGecko data.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Microsoft employee layoffs

Microsoft Announces 9,000 Layoffs, Impacting Less Than 4% of Workforce

Sean Diddy Combs guilty on 2 prostitution counts, not guilty on trafficking in 2025 trial

Sean ‘Diddy’ Combs Verdict: Guilty on Two Counts, Not Guilty on Three

Paris Heatwave

Europe Heatwave Claims 4 lives Sparks Deadly Wildfires

Post Archives

More Popular from Photonews

Bajaur Bomb Blast
Khyber Pakhtunkhwa

Bajaur Bomb Blast Kills Five, Injures 11 in Khyber Pakhtunkhwa

2 Min Read
Pakistan Remittance Incentives
Business

Pakistan Banks Defend Remittance Incentives Amid Misleading Claims

3 Min Read
Justin Bieber lilbieber 2025
Entertainment

Justin Bieber Switches Instagram to @lilbieber, Sparks Fan Speculation

3 Min Read
Business

PSX KSE-100 Drops 715 Points as Profit-Taking Halts Rally

The Pakistan Stock Exchange (PSX) faced selling pressure on June 26, 2025, ending a two-day rally.…

June 26, 2025
Sports

Harry Kane’s Brace Leads Bayern Munich to Club World Cup Quarter-Finals

Harry Kane’s clinical finishing propelled Bayern Munich to a 4-2 victory over Flamengo in the Club…

June 30, 2025
Business

Pakistan Stock Exchange KSE-100 Soars Past 130,000 in Historic Rally

The Pakistan Stock Exchange (PSX) achieved a historic milestone as the KSE-100 index surged past 130,000…

July 2, 2025
Khyber Pakhtunkhwa

Peshawar BRT Fare Hike Sparks Public Outcry in July 2025

On July 1, 2025, the Peshawar Bus Rapid Transit (BRT) system raised its fares, prompting widespread…

July 1, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?