Tether has frozen 112 wallets on the Tron and Ethereum networks holding ~$700M in USDT.
An on-chain analyst linked the freeze to efforts to curb Iranian sanctions evasion.
The majority of the frozen wallets are reportedly hosted on the Tron blockchain
Tether has frozen 112 wallets holding approximately $700 million in USDT on the Tron and Ethereum blockchains, a move that is linked to Israel-Iran tensions and at the same time when there is a renewed push within the US for stablecoin legislation.
The action was first highlighted by the on-chain analyst known as Cryptadamist, who revealed that the majority of the frozen wallets, particularly the top 40, are hosted on the Tron blockchain. The move has put a spotlight on the use of USDT and the Tron network by Iranian crypto users to potentially navigate international sanctions.
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Since #Israel attacked #Iran Tether has frozen 112 addresses on Tron and Ethereum.
– Collectively those wallets received ~$700 million USDT before being frozen
– The top 40 of those wallets are *all* on Justin Sun's Tron blockchain
Iranian exchanges mostly use Tron USDT. pic.twitter.com/hzkYtCVmXq
— @cryptadamist.universeodon.com.…
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