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Illegal USDT transactions and global regulatory challenges caused by the Hong Kong boy kidnapping caseTether, the issuer of the USDT digital currency, has recently come under increasing regulatory scrutiny for its involvement in major illegal transactions. It is reported that the pressure of this scrutiny comes from the connection between its digital currency and multiple illegal financial activities. On July 3, a shocking kidnapping case occurred in the Tseung Kwan O area of ​​Hong Kong. A 3-year-old boy was kidnapped in a shopping mall. After committing this crime, the kidnappers demanded a ransom of up to US$660,000 from the boy's family, which is equivalent to about HK$5.15 million. The amount of the ransom is shocking and also reflects the seriousness of the case.

Illegal USDT transactions and global regulatory challenges caused by the Hong Kong boy kidnapping case

Tether, the issuer of the USDT digital currency, has recently come under increasing regulatory scrutiny for its involvement in major illegal transactions. It is reported that the pressure of this scrutiny comes from the connection between its digital currency and multiple illegal financial activities.
On July 3, a shocking kidnapping case occurred in the Tseung Kwan O area of ​​Hong Kong. A 3-year-old boy was kidnapped in a shopping mall. After committing this crime, the kidnappers demanded a ransom of up to US$660,000 from the boy's family, which is equivalent to about HK$5.15 million. The amount of the ransom is shocking and also reflects the seriousness of the case.
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