Binance, Industry Leaders Freeze $49.6M USDT in Pig-Butchering Scam

In a significant win against digital fraud, a collaboration between blockchain analytics firms, stablecoin issuers, and major exchanges has led to the freezing of nearly $50 million in USDT linked to a pig-butchering scam. This operation, spearheaded by Chainalysis, Tether, Binance, and OKX alongside law enforcement agencies across the Asia-Pacific region, marks a significant step forward in combatting this insidious form of financial deception. The frozen funds represent a substantial loss for the perpetrators, demonstrating the growing capability within the crypto ecosystem to track and intercept illicit funds.