PANews reported on August 28 that Binance disclosed that in June 2024, law enforcement authorities in the Asia-Pacific region froze nearly $50 million in illicit funds following a multi-stakeholder investigation supported by Binance, Chainalysis, and other industry partners. In that case, the Chainalysis investigation team used blockchain analysis technology to trace the flow of funds linked to another active fraud network in Southeast Asia. They tracked transactions from dozens of victims between November 2022 and July 2023, targeting a series of integrated wallets controlled by the scammers. The criminals pooled funds into a primary wallet and distributed them to five final wallets via intermediate addresses, holding a total of nearly $47 million in USDT. To prolong the scam, the scammers would also return small amounts of funds. After receiving intelligence, Asia-Pacific law enforcement authorities instructed the stablecoin issuer to freeze the funds in June. Investigators acted swiftly and prevented the exchange of illicit proceeds.