Chainalysis and International Justice Mission have exposed a $100 million cryptocurrency scam in Myanmar's KK Park, linked to a Chinese company.

The company is implicated in romance scams and demanding ransoms for trafficked workers who are forced to engage in 'pig butchering' scams.

Tether, a stablecoin, has been frequently used by Southeast Asian crime syndicates in these scam operations.

The U.S. Department of Justice and Tether have worked together to freeze over $225 million in USDT suspected of being tied to these criminal activities.

Investigations show that the scam involved cryptocurrency addresses that received funds from known scam operations and are linked to a Chinese scamming gang's front company.

The case underscores the urgent need for enhanced regulatory measures to prevent cryptocurrencies from being exploited by criminals, including for human trafficking and forced labor.

There is a call for increased collaboration between regulatory bodies and law enforcement to take down criminal networks leveraging cryptocurrencies for illicit activities.