Tether Freezes $38M in USDT as $150M Fraud Scheme Collapses
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Tether froze $38.4M USDT (part of $41.5M frozen across platforms) linked to a collapsed ~ $150M DSJ / BG Wealth Sharing fraud; largest freeze on TRON USDT. On-chain investigator ZachXBT traced ~$92M moved via cross-chain swaps and wallets and coordinated tracking with Binance, OKX and U.S. law enforcement; regulators had warned BG about fake returns and licensing claims. Crypto impact: highlights cross-chain laundering risks, stronger CEX/DeFi law-enforcement cooperation and rising regulatory/security pressure that could hurt adoption and market trust.
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- Tether freezes $38.4M USDT as ZachXBT links funds to $150M DSJ and BG fraud collapse case.
- ZachXBT says $92M moved via cross-chain swaps and wallets before authorities stepped in.
- Regulators across countries warned BG Wealth Sharing of fake returns and licensing claims.
Tether has frozen $38.4 million in USDT linked to a suspected fraud involving DSJ Exchange and BG Wealth Sharing, according to on-chain investigator ZachXBT. The scheme is estimated to have grown to about $150 million before collapsing last week.
In a post on X, ZachXBT said he coordinated with Binance, OKX, and U.S. law enforcement to track the movement of funds across chains. As a result, more than $41.5 million has now been frozen across different platforms, with the largest share coming from Tether on the TRON network. Investigators traced the transactions using cross-chain tracking and timing a…
Read The Full Article Tether Freezes $38M in USDT as $150M Fraud Scheme Collapses On Coin Edition.
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