Joint Investigation Dismantles $47M Pig Butchering Scam Network in Asia-Pacific

Authorities in the Asia-Pacific region have crippled a large-scale pig butchering cryptocurrency scam operation, freezing nearly $47 million in USDT linked to victims. This action was coordinated by Chainalysis, Tether, Binance, and OKX, leveraging blockchain analysis tools to track funds associated with fraudulent investment schemes. Victims were lured into fake opportunities before their financial resources were drained through a series of manipulated investments, ultimately leading to significant losses. 🤝 The joint effort highlights the significance of industry collaboration in combating complex financial crime networks.