Ethereum

2024

On May 14, stablecoin issuer Tether froze $5.2 million in USDT linked to phishing scams. The funds were held in 12 Ethereum wallets flagged by blockchain security platform MistTrack as “USDT Banned Addresses.”&nbsp; 
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 ⚠️MistTrack Alert🧐 Just now, <a href="https://twitter.com/hashtag/Tether?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Tether</a> froze ~5.2 million <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$USDT</a> on 12 addresses. These addresses are associated with addresses tagged as "USDT Banned Address" by <a href="https://twitter.com/hashtag/MistTrack?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#MistTrack</a>.<a href="https://t.co/OzPQkfCehS" target="_blank">https://t.co/OzPQkfCehS</a> <a href="https://t.co/msAShbbl73" target="_blank">pic.twitter.com/msAShbbl73</a>— MistTrack🕵️ (@MistTrack_io) <a href="https://twitter.com/MistTrack_io/status/1790215338170446058?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 14, 2024</a>
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Tether, the world’s leading stablecoin issuer, has a history of freezing assets tied to illegal activities, including money laundering and sanction violations. MistTrack identified the addresses involved, suggesting their connection to prohibited activities. Tether CEO Paolo Ardoino revealed that the company has blocked over $1.3 billion in assets since its inception, with $1.6 million linked to terrorist financing. 
In the past few years, Tether has been proactive in blocking suspicious addresses. In January 2022, it blacklisted three Ethereum addresses holding over $150 million in USDT. By October 2022, Tether had frozen $8.2 million in USDT and added 215 Ethereum-based addresses to its blacklist. Tether also froze over $360 million in assets, including $870,000 linked to terrorist activity in <a href="https://www.cryptotimes.io/2023/10/16/tether-freezes-873k-linked-to-terrorism-in-ukraine-israel/">Ukraine and Israel</a> and $225 million connected to romance scammers. 
Tether collaborates with law enforcement agencies worldwide, working with 24 agencies across 40 countries and responding to 198 requests to block wallets in the past year. The company has implemented controls to prevent sanctioned individuals and entities from using USDT, reinforcing its commitment to global compliance and security measures. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also read: <a href="https://www.cryptotimes.io/2024/05/13/tether-ceo-rejects-ripple-ceos-claim-of-us-targeting/">Tether CEO Rejects Ripple CEO’s Claim of US Targeting</a> 
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Tether Freezes $5.2M worth USDT Linked to Phishing Scams

The Crypto Times

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