[Binance: Assisted in Freezing $47 Million Related to Pig-Butchering Scams in the Asia-Pacific Region Last Year] Binance disclosed that in June 2024, following a multi-stakeholder investigation supported by Binance, Chainalysis, and other industry partners, law enforcement in the Asia-Pacific region froze nearly $50 million in illicit funds. In the case, the Chainalysis investigative team utilized blockchain analysis technology to trace the flow of funds linked to another active scam network in Southeast Asia. They tracked transactions from dozens of victims between November 2022 and July 2023, identifying a series of consolidation wallets controlled by the scammers. The criminals funneled the funds into a main wallet, which were then distributed through intermediary addresses to five final wallets, collectively holding nearly $47 million in USDT. To prolong the scam, the fraudsters would even return small amounts of funds. After receiving intelligence, Asia-Pacific law enforcement instructed the stablecoin issuer to freeze the funds in June. Investigators acted swiftly to prevent the illicit proceeds from being cashed out.