Tether freezes 50 million USD: Cooperation with Chainalysis, Binance, OKX and international law enforcement authorities against fraud by 'PIG Butchering'.

Tether freezes 50 million USD: Cooperation with Chainalysis, Binance, OKX and international law enforcement authorities against fraud by 'PIG Butchering'.

Tether freezes 50 million USt in connection with fraud cases

Tether, the provider of cryptocurrency USDT, recently frozen 50 million USDT, which are connected to so-called "PIG Butchering" scams. This step was taken in close cooperation with Chainalysis, Binance, Okx and various global law enforcement authorities.

"Pig Butchering" describes a fraudulent method in which perpetrators specifically address investors and use them on the Internet investments in cryptocurrencies or other financial products. This fraud stitch has increased significantly in recent years, which is why Tether took measures to freeze the affected funds and thus punish the perpetrators.

Cooperation with Chainalysis, a leading company for blockchain -based analysis, enables Tether and the partners to pursue and prevent suspicious transactions more efficiently. The campaign is a clear indication of how important it is to ensure the protection of the user and the integrity of the cryptocurrency market.

With this measure, Tether sends a clear message to the cryptocurrency community and underlines the need to act against fraudulent activities. This proactive attitude of Tether and his partners could help strengthen trust in digital currencies and to promote the protection of investors.

Overall, this incident shows how important the cooperation between cryptocurrency providers and law enforcement agencies is in order to act against fraud and illegal activities in the industry.