Tether Freezes $12.3M USDT on Tron Network Amid Illicit Activity Concerns
- Tether, issuer of the largest stablecoin, has frozen over $12.3 million in USDt on the Tron Network.
- The freeze occurred at 9:15 am UTC, with blockchain data from Tronscan confirming the action.
- This move aligns with Tether’s policy to combat money laundering and terrorist financing, adhering to OFAC sanctions lists.
- In March, Tether also froze $27 million in USDT on Garantex exchange, which was sanctioned by OFAC in April for AML violations.
- The T3 Financial Crimes Unit has collectively frozen $126 million worth of USDT in its first six months of operation.
Tether’s recent freeze of $12.3 million USDT on the Tron Network reflects ongoing efforts to prevent illicit activities by aligning with international sanctions and anti-money laundering regulations. The action is part of a broader strategy that includes significant freezes like the $27 million on Garantex exchange earlier this year.
These measures underscore Tether’s commitment to regulatory compliance and its role in assisting law enforcement agencies worldwide in addressing financial crimes involving cryptocurrencies.Source)
