Since it launched, Tether has frozen over $1 billion worth of assets linked to illicit activities after requests from law enforcement agencies.
Stablecoin issuer Tether froze $5.2 million of its stablecoin Tether (USDT) linked to phishing scams on May 14. This USDT was stored in 12 Ethereum wallets tagged as “USDT Banned Address.”
On-chain analytics firm SlowMist’s chief security officer said that the addresses were being used for laundering funds from phishing scams without elaborating further.
Tether, the world’s largest stablecoin issuer, has frozen billions of dollars of assets linked to hacks, exploits and scams. In an X post, Tether CEO Paolo Ardoino said the firm has blocked more than $1.3 billion since it launched, with approximately $1.6 million related to terrorist financing.
