Tether froze approximately $39.3 million USDT, involving addresses linked to Xinbi Guarantee.

BlockBeats News, September 9 — Tether froze approximately $39.3 million USDT across 10 addresses on the Tron network earlier today, which are linked to Xinbi Guarantee.

Sources familiar with the matter revealed that Xinbi Guarantee is a guaranteed trading marketplace that emerged on Telegram around 2022. Blockchain analytics firm TRM Labs has previously described it as one of the largest illegal cryptocurrency markets in Southeast Asia, noting that the platform has processed cumulative transactions totaling approximately $24.2 billion.

On-chain tracking platform MistTrack was the first to disclose the news of the USDT freeze. This action indicates that Tether is further implementing on-chain asset freezing measures, targeting addresses deemed associated with high-risk or suspected illegal activities.