Tether Freezes 344 Million USDT in U.S.-Led Action

Tether, the issuer of the USDT stablecoin, froze more than 344 million in digital assets across two wallet addresses on Thursday, acting in coordination with U.S. authorities to disrupt suspected sanctions evasion and criminal networks.

The company restricted the wallets after receiving intelligence from the U.S. Treasury's Office of Foreign Assets Control and multiple law enforcement agencies. Officials identified the addresses as linked to unlawful activities, including efforts to circumvent sanctions and large-scale fraud schemes. Tether acted swiftly to prevent further transfers, aligning with its policy of monitoring blockchain transactions in real time. The frozen funds totaled approximately 213 million in one address and 131 million in the other, according to on-chain analysis.

This enforcement action underscores Tether's zero-tolerance approach to illicit use of its stablecoin, which maintains a peg to the U.S. dollar and holds a market capitalization exceeding 188 billion. "USDT is not a safe haven for illicit activity," said Paolo Ardoino, Tether's CEO. "When credible links to sanctioned entities or criminal networks are identified, we act immediately and decisively."...