"TETHER SUED OVER FROZEN ‘PIG BUTCHER’ FUNDS AS 6,600 STUDENTS RECEIVE CRYPTO LOANS" Two Thai businessmen have sued Tether over $42.4 million in frozen USDT allegedly linked to a $61 million pig-butchering scam. The plaintiffs claim Tether froze the funds in October 2025 following an informal request from US Homeland Security Investigations. A formal seizure warrant was issued months later in February 2026, ordering the tokens to be burned and reissued to a government wallet. Meanwhile, Thailand is tightening crypto oversight with new Travel Rule requirements, including checks involving self-custodial wallets. The rules will take effect on Feb. 27, 2027, requiring digital asset operators to collect transaction-party information. Thailand’s SEC is also considering regulated retail access to certain overseas crypto derivatives, with public consultation open until Sept. 30.