Tether blocks $12.3 million in USDT linked to suspicious Tron addresses

Tether froze over $12.3 million in funds, pointing to possible illegal activities or violations of anti-money laundering regulations.

Tether blocks $12.3 million in USDT linked to suspicious Tron addresses

News

Tether, issuer of the world's largest stablecoin, USDt, has frozen over $12.3 million in digital assets on the Tron network, continuing its campaign against illegal activities in the cryptocurrency space.

Tether froze the USDt

USDT

€0.8711

at 9:15 a.m. UTC on Sunday on Tron, according to data from the Tronscan blockchain.

Although Tether has not issued any public statement, the freeze could be due to concerns over potential sanction violations or anti-money laundering (AML) risks.

"Tether enforces a strict wallet freezing policy to combat money laundering, nuclear proliferation, and terrorist financing, and also complies with the Office of Foreign Assets Control (OFAC) specially designated nationals (SDN) list," Tether wrote in a blog post on March 7.

The policy aligns with the sanctions list of the Office of Foreign Assets Control (OFAC) of the U.S. Treasury.