OKX Flags Suspicious Accounts Leading to $225M Crypto Scam Bust

U.S. authorities have made history with the largest cryptocurrency seizure in Secret Service history, confiscating over $225 million in USDT tied to a global money laundering network. The operation, which involved fake crypto exchanges and human trafficking rings spanning from the U.S. to Southeast Asia, was uncovered after OKX identified and reported 144 suspicious accounts. This case highlights the critical role of vigilant crypto exchanges in combating illicit activities and underscores the ongoing challenges of regulating the digital asset space.

$225M Crypto Scam Exposed: U.S. Links Funds to Trafficking and Fake Exchanges

U.S. authorities have seized over $225 million in USDT, marking the largest crypto bust in Secret Service history. The funds were tied to a global money laundering network involving fake crypto exchanges and human trafficking operations spanning from the U.S. to Southeast Asia.

The investigation began after OKX flagged 144 suspicious accounts, uncovering a fraud ring that siphoned funds through counterfeit investment platforms. At least 434 victims reported losses, including former Heartland Tri-State Bank CEO Shan Hanes. The scheme preyed on investors who believed they were using legitimate exchanges.

Tether's transparency tools proved critical in tracing the illicit funds, demonstrating blockchain's dual-edge nature in both enabling and combating financial crime. The case highlights growing regulatory scrutiny of stablecoins' role in cross-border criminal operations.

Sui’s Momentum DEX Launches Cross-Chain Trading Push with Wormhole and OKX Wallet

Momentum DEX, a decentralized exchange on the sui blockchain, has forged strategic partnerships with cross-chain messaging protocol Wormhole and OKX Wallet. The collaboration aims to funnel billions in liquidity into the Sui ecosystem by 2025, leveraging Wormhole’s newly launched Native Token Transfers (NTT) for seamless asset movement across blockchains.

The initiative coincides with Momentum’s 12-week WAGMI Trading Competition, which will distribute tokens via airdrops to participants. Wormhole’s $60 billion multichain infrastructure will enable Momentum to become the first DEX supporting NTT-based assets, enhancing cross-chain liquidity and user acquisition.

GateToken (GT), MEXC Token (MX), and Bonk (BONK) are among the first projects to utilize Wormhole’s NTT system, bridging tokens from Ethereum-compatible chains and solana to Sui. These assets will debut on Momentum DEX, potentially boosting Sui’s Total Value Locked (TVL). The full bridge launch is slated for September 2025.

Momentum’s integration with OKX’s Cryptopedia further expands its reach, combining cross-chain trading with learn-to-earn incentives.