Thai Entrepreneurs Sue Tether Over $42.4 Million USDT Freeze
- Nuttawat Rukhammaichalern and Nattawat Kasamvilas have filed a lawsuit against Tether in the U.S. District Court for the Southern District of New York.
- The plaintiffs allege that Tether blacklisted ten Ethereum addresses holding approximately 42.4 million USDT on October 30, without a legal warrant.
- U.S. authorities obtained an asset seizure warrant on February 19, months after the freeze was implemented.
- The lawsuit seeks to unfreeze the assets, prevent their destruction, and recover damages from potential earnings by Tether.
- Tether has previously frozen over $514 million in USDT across various addresses as part of law enforcement cooperation.
The lawsuit emphasizes that Tether acted without formal legal orders when it froze the assets, raising questions about its authority over third-party holdings.
As of now, the disputed 42.4 million USDT remains frozen while the court has yet to rule on ownership or liability issues related to Tether’s actions.
