Necessary stablecoin issuer Tether has frozen a blended $140 million USDT across three addresses, as reported by blockchain tracker Whale Alert this day. The particular particulars in the help of the freeze are but to be revealed by Tether.
Alternatively, in a outdated statement from Might per chance well fair, Tether CEO Paolo Ardoino emphasized the corporate’s commitment to anti-cash laundering and sanctions compliance. Tether reported employment of a extremely qualified personnel specializing in transaction diagnosis and collaboration with Chainalysis to pinpoint wallets doubtlessly related to unlawful activity or attempts to bypass sanctions.
This commitment extends to active cooperation with law enforcement companies. Tether reports collaborations with over 124 companies across 40 worldwide locations, main to the freezing of wallets exceeding $1.3 billion in total.
❄ ❄ ❄ An tackle with a balance of fifty,010,211 #USDT (50,066,097 USD) has beautiful been frozen!https://t.co/8Y3rJTIV6k
— Whale Alert (@whale_alert) July 15, 2024
Particularly, in the previous year by myself, Tether has voluntarily responded to 198 law enforcement requests to freeze wallets, with 90 originating from the U.S. authorities. This collaborative effort has resulted in over $639 million being frozen.
While the real reason in the help of the $140 million freeze remains undisclosed, Tether’s previous statements reward an outstanding level of curiosity on AML and sanctions compliance. Its cooperation with law enforcement suggests these frozen addresses also can fair had been linked to doubtlessly suspicious activity. Tether itself did now not provide information about blocked wallets.
