Advertisement

Tether Froze 41 Crypto Wallets Tied to Sanctions


Stablecoin issuer Tether has frozen 41 crypto wallets controlled by people on the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals (SDN) List on Saturday.

Tether described the actions as “precautionary measures” in a blog post. This move came shortly after Tether announced its new wallet-freezing policy.

On-chain data shows that several wallets had been using coin-mixing service Tornado Cash in the past six months. 

See Also: Tether Treasury Transfers $60M In USDT To A Mysterious Institution

One of the frozen wallets is also associated with the $625 million Ronin Bridge attack, which, according to the US Treasury Department, was executed by North Korea hacking group Lazarus Group.

“By executing voluntary wallet address freezing of new additions to the SDN List and freezing previously added addresses, we will be able to further strengthen the positive usage of stablecoin technology and promote a safer stablecoin ecosystem for all users,” said Tether CEO Paolo Ardoino.

In October, Tether froze 32 wallets that were linked to terrorism and warfare in Ukraine and Israel. It also froze $225 million last month in relation to a human trafficking syndicate following an investigation by the U.S. Department of Justice.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *