The operation, a result of a joint investigation with the U.S. Department of Justice (DOJ), marks the largest-ever freeze of USDT in the history of Tether.

Utilizing analytical tools from blockchain analysis firm Chainalysis, Tether, and OKX were able to trace and identify the illicit funds on the blockchain.

This discovery led to a proactive freeze request by the U.S. Secret Service.

The investigation spanned several months, during which Tether and OKX worked with U.S. law enforcement agencies. Tether stated the frozen wallets, which are on the secondary market, were not associated with its direct customers.

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Tether CEO Paolo Ardoino emphasized the company's dedication to fostering a secure environment in the crypto space.

"Our recent collaboration with the Department of Justice underscores our dedication to fostering a secure environment. We believe in leveraging technology and relationships, such as our collaboration with OKX, to proactively address illicit activities and uphold the highest standards of integrity in the industry," Ardoino stated.

OKX Chief Innovation Officer Jason Lau echoed this sentiment, highlighting the importance of collaboration with law enforcement agencies in building trust and serving the public good in the crypto industry.

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