Tether Assists US Law Enforcement in Freezing Over 344 Million USDT Amid Illegal Activity Probe

BlockBeats News, April 23rd, Tether announced that it has frozen over $344 million worth of USDT assets in two addresses in coordination with the U.S. government. The action was taken after the relevant addresses were identified to prevent further fund transfers. This freezing was based on information provided by multiple U.S. law enforcement agencies and involved funds related to illegal activities.

Tether stated that when a wallet is identified to be associated with sanctions evasion, criminal networks, or other illicit activities, the company will restrict the movement of the related assets based on law enforcement requests. Currently, it has collaborated with over 340 law enforcement agencies in more than 65 countries globally, supporting over 2300 cases, freezing a total of over $4.4 billion, with approximately $2.1 billion linked to U.S. law enforcement.

Tether emphasized that it follows the rules of the U.S. Office of Foreign Assets Control (OFAC) sanctions list and maintains a "zero-tolerance" approach to the illicit use of USDT. The company stated that the traceability of the blockchain allows for transparent record-keeping of fund flows, enabling identification and freezing before further fund transfers. Tether CEO Paolo Ardoino stated that USDT is not a safe haven for illegal funds and that immediate action will be taken upon the discovery of credible links to sanctioned entities or criminal networks. This freezing is also considered part of its long-term collaboration with institutions such as the U.S. Department of Justice.

Previously reported, according to MLM Monitor, Tether froze approximately 344 million USDT held in two addresses on the Tron blockchain.