tl;dr
Tether froze 5.2 million USDT tokens on May 14, associated with 12 Ethereum addresses suspected to be linked to laundering addresses for phishing groups. The stablecoin firm took this action based on data from MistTrack, a crypto tracking and compliance platform. This move follows previous freezes b...
Tether Freezes 5.2 Million USDT Tokens Tether froze 5.2 million USDT tokens on May 14, associated with 12 Ethereum addresses suspected to be linked to laundering addresses for phishing groups.
This action was based on data from MistTrack, a crypto tracking and compliance platform. Tether has a history of freezing assets, including the largest-ever freeze of 225 million USDT tokens in November 2023, and the freezing of 41 wallets tied to individuals on the OFAC Specially Designated Nationals List in December 2023.
Other crypto firms, such as Binance and Huobi, have also actively frozen assets associated with scammers and hackers.
Key points:
- Tether froze 5.2 million USDT tokens on May 14, associated with 12 Ethereum addresses.
- The addresses might be connected to laundering addresses for phishing groups.
- Tether has a history of freezing assets linked to illicit activities.
In a post on social media platform X (formerly known as Twitter), MistTrack stated that the stablecoin firm froze 5.2 million USDT on 12 Ethereum addresses tagged as “USDT Banned Address” by the crypto tracking platform.
These 12 addresses may be money laundering addresses for phishing groups, with attackers possibly using crypto mixers to launder their money.
In November 2023, Tether announced the largest-ever freeze of USDT in history, with over 225 million tokens associated with 37 wallets frozen due to ties with a human trafficking group.
In December 2023, the company also froze 41 wallets controlled by individuals on the OFAC Specially Designated Nationals List.
Crypto firms, including Binance and Huobi, have been actively freezing addresses associated with scammers and hackers, with instances such as freezing $1.4 million worth of crypto assets tied to Lazarus Group’s Harmony Bridge heist in June 2022.
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