Tether, the leading stablecoin issuer, has introduced a voluntary freezing policy to prevent the misuse of its USDT token and strengthen security measures. This move is aimed at cooperating with law enforcement agencies and proactively combating any activity involving individuals and entities listed on the United States Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list.
Tether’s voluntary freezing policy supplements its existing security protocols and works in collaboration with global regulators and law enforcement. The company has already frozen 161 Ethereum wallets, most of which held zero USDT. However, one wallet alone held nearly $3.4 million USDT and was linked to a recent hacking incident.
This change in Tether’s position aligns with its commitment to maintaining safety standards, promoting the positive usage of stablecoin technology, and ensuring a secure ecosystem for all users. With a market capitalization of over $90 billion, Tether remains highly demanded in the crypto market.
Hot Take: Tether Strengthens Security Measures with Voluntary Freezing Policy
By
By
By
By
By