Tether blacklists 54M USDT across 5 wallets

Stablecoin issuer Tether has frozen 54M USDT tokens to combat illicit activities. 
Dot
May 19, 2024
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

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Photo Source: Tether

Stablecoin issuer Tether has frozen 54M USDT tokens as it faces ongoing legal issues. 

Data from Arkham Intelligence revealed that Tether has blacklisted five unidentified wallets holding a combined 54.1M USDT. The most recent transaction, which took place two days ago, involved a wallet that had transferred most of its funds to other wallets over the past six months. This move is part of Tether’s ongoing efforts to combat illicit activities.



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It is worth noting that this is not the first time Tether has taken such an action. The company previously froze approximately 225M USDT in cooperation with OKX and the US Department of Justice (DOJ). Earlier this week, the stablecoin issuer also blocked 5.2M USDT associated with illicit activities.

Tether blacklists 54M USDT across 5 wallets

HomeStablecoins
Contents
Photo Source: Tether

Stablecoin issuer Tether has frozen 54M USDT tokens as it faces ongoing legal issues. 

Data from Arkham Intelligence revealed that Tether has blacklisted five unidentified wallets holding a combined 54.1M USDT. The most recent transaction, which took place two days ago, involved a wallet that had transferred most of its funds to other wallets over the past six months. This move is part of Tether’s ongoing efforts to combat illicit activities.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


It is worth noting that this is not the first time Tether has taken such an action. The company previously froze approximately 225M USDT in cooperation with OKX and the US Department of Justice (DOJ). Earlier this week, the stablecoin issuer also blocked 5.2M USDT associated with illicit activities.

Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

Stablecoin issuer Tether has frozen 54M USDT tokens as it faces ongoing legal issues. 

Data from Arkham Intelligence revealed that Tether has blacklisted five unidentified wallets holding a combined 54.1M USDT. The most recent transaction, which took place two days ago, involved a wallet that had transferred most of its funds to other wallets over the past six months. This move is part of Tether’s ongoing efforts to combat illicit activities.



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


It is worth noting that this is not the first time Tether has taken such an action. The company previously froze approximately 225M USDT in cooperation with OKX and the US Department of Justice (DOJ). Earlier this week, the stablecoin issuer also blocked 5.2M USDT associated with illicit activities.

Written by
Ayush Pande