Vigilance
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Tether Freezes Funds Linked to Gaza Network
In a recent development, Tether, the issuer of the popular stablecoin USDT, has frozen access to a whopping $1.6 million worth of the token. The action was taken in response to suspicions of the funds being linked to a network operating in Gaza.
Tether's chief technology officer revealed that the decision was made after noticing unusual activity and potential security risks associated with the said network. The company acted swiftly, freezing the funds and effectively removing them from circulation.
This incident serves as a reminder that the cryptocurrency ecosystem is vigilant and proactive in combating potential illicit activity. Regulatory compliance and the security of user funds are paramount within the industry.
#CryptoSecurity #Tether #USDT #Vigilance #compliance
$USDT $USDC
In a recent development, Tether, the issuer of the popular stablecoin USDT, has frozen access to a whopping $1.6 million worth of the token. The action was taken in response to suspicions of the funds being linked to a network operating in Gaza.
Tether's chief technology officer revealed that the decision was made after noticing unusual activity and potential security risks associated with the said network. The company acted swiftly, freezing the funds and effectively removing them from circulation.
This incident serves as a reminder that the cryptocurrency ecosystem is vigilant and proactive in combating potential illicit activity. Regulatory compliance and the security of user funds are paramount within the industry.
#CryptoSecurity #Tether #USDT #Vigilance #compliance
$USDT $USDC
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