Tether Freezes $873,118 Worth of USDT Linked to Terrorist Activity
Tether, the stablecoin issuer, has taken action to freeze 32 addresses associated with terrorist activity in Israel and Ukraine. Working in collaboration with local law enforcement agencies, Tether has frozen $873,118 worth of Tether (USDT) linked to illicit activity in these countries.
The move comes as Tether CEO Paolo Ardoino emphasized the traceability of cryptocurrency transactions on blockchain platforms. He stated that contrary to popular belief, cryptocurrency transactions are not anonymous but rather the most traceable and trackable assets.
“Contrary to popular belief, cryptocurrency transactions are not anonymous; they are the most traceable and trackable assets.”
Ardoino further mentioned that Tether is actively cooperating with global law enforcement agencies to monitor and identify the movement of illicit funds. The company aims to freeze assets associated with criminal and terrorist activities whenever possible.
Tether’s Efforts in Freezing Assets
This is not the first time Tether has taken action against illicit activities. In late 2022, the company froze more than $360 million in assets. However, it later re-issued over $100 million of USDT that had been intercepted.
Hot Take: Tether’s Commitment to Combatting Illicit Activities
Tether’s recent move to freeze USDT linked to terrorist activity in Israel and Ukraine demonstrates its commitment to combatting illicit activities within the crypto space. By working closely with local law enforcement agencies and leveraging blockchain technology’s transparency, Tether aims to prevent the misuse of its stablecoin for criminal purposes. This proactive approach highlights the industry’s growing efforts to establish trust and legitimacy while ensuring compliance with regulatory standards.
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