Tether Freezes $344 Million in USDT Due to Alleged Illicit Activity
- Tether has frozen $344 million worth of USDT tokens across two wallets on the Tron blockchain.
- The freeze was initiated after U.S. authorities flagged the wallets for links to illicit activities.
- Blockchain analytics firm AMLbot indicated that the flagged addresses appeared in scam-related documents.
- Tether has supported over 2,300 cases globally in coordination with law enforcement agencies across various countries.
- The company is also expanding its U.S. market presence with a new compliant stablecoin, USAT, and plans for a full audit of its reserves.
This action reflects ongoing concerns regarding the role of stablecoin issuers in preventing illegal transactions, especially as recent reports highlight their use in sanctions evasion and money laundering.
The freezing of $344 million in USDT underscores Tether’s commitment to working with authorities on illicit activity cases while enhancing transparency through an upcoming reserve audit. (Source)
