Tether announced the freezing of $344 million in USDT linked to illegal activities.
Tether announced the freezing of $344 million in USDT across two wallets linked by US authorities to illegal activities.
“The freezing of funds followed information provided to Tether by US authorities […]. This has become a routine part of the firm’s response to legitimate requests from the US and other countries,” the release stated.
Representatives of the issuing company noted that the tracking of funds was conducted in cooperation with the US Department of the Treasury’s Office of Foreign Assets Control.
“USDT is not a safe haven for illegal activities,” emphasized Tether CEO Paolo Ardoino, commenting on the situation.
This is not the first time the company has cooperated with US authorities. In February, Tether received thanks from the Department of Justice for its assistance in thwarting a “pig butchering” scam. During an operation in North Carolina, funds amounting to nearly $61 million were seized from the perpetrators.
At that time, the issuer reported a total of $4.2 billion blocked in connection with illegal activities.
USDT remains the largest stablecoin with a market capitalization of $69 billion. Its closest competitor, USDC, has a figure of just over $15 billion.
In April, the security council of the L2 network Arbitrum took “emergency measures” and blocked 30,766 ETH stolen from the Kelp protocol.
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