Stablecoin issuer Tether has frozen approximately $5.2 million in USDT, funds believed to be held in addresses operated by phishing scammers.
Blockchain analytics firm SlowMist reported that 12 Ethereum addresses were involved in the freeze, and the Tether (USDT) holdings in these addresses have been disabled. Each wallet is marked as a "USDT disabled address", and a security researcher at SlowMist said that the funds appear to be related to an on-chain criminal gang.
Phishing is rampant in the cryptocurrency space, with criminals imitating real platforms or decentralized applications (dapps) to steal private keys and compromise wallet security.
Scammers continue to attack, but security experts note that users and platforms have developed strong defenses against these scams. According to CertiK, last month was the month with the least amount of money lost to scams and phishing hacks since 2021. According to reports, criminals stole only $25.7 in April.
Tether’s centralization could help combat illicit wealth
Typically, freezing stolen crypto assets proves difficult because decentralized entities can operate in highly censorship-resistant models. In this case, Tether’s centralized structure could help curb criminal activity.
This isn’t the first time a stablecoin issuer has stepped in, either. In March, Tether blacklisted four addresses holding more than $20 million in USDT as part of its efforts to combat concerns that its stablecoin was being used for criminal activity.
Following the United Nations’ allegations of negligence against USDT operators, the company pledged to step up its actions against illegal activities. In a letter to U.S. lawmakers, Tether also confirmed its expanded focus on illegal cryptocurrency transactions executed through stablecoin corridors.
Conclusion
The action taken by Tether highlights the urgency and possibility of combating illegal financial activities in the cryptocurrency industry. By freezing the assets of suspected scammers, Tether demonstrates the positive role of its centralized stablecoin management in preventing and responding to criminal behavior.
This move not only protects the safety of investors’ assets, but also enhances the community’s confidence in digital assets. At the same time, it also reflects the efforts of the entire industry to improve security and compliance, especially in the context of international organizations such as the United Nations raising concerns about cryptocurrency regulation.
With the continuous strengthening of security measures and the promotion of industry best practices, the cryptocurrency field is expected to become more secure and transparent in the future, providing users with a more reliable investment environment. #加密欺诈 #Tether
