Tether Freezes 870,000 USDT Across Three Addresses

2 Min Read Tags:

  • Tether has frozen 870,000 USDT on three different wallet addresses.
  • These wallets are linked to cryptocurrency exchanges and fraudulent activities.
  • Similar actions were taken by Tether earlier in 2024 involving larger sums.

Tether Freezes 870,000 USDT Across Three Addresses
In a significant move within the cryptocurrency sector, Tether, the issuer of the stablecoin USDT, has frozen assets amounting to 870,000 USDT spread across three distinct wallet addresses. This development was highlighted by experts at MistTrack, a well-regarded analytics platform. Such actions underscore ongoing efforts within the crypto community to combat fraud and secure financial transactions.

Details of the Frozen Addresses

The first wallet address is situated on the TRON network and has previously interacted with cryptocurrency exchanges WhiteBIT and OKX. Notably, another wallet address on the Ethereum network is implicated in various fraudulent schemes such as phishing and scams like Pig Butchering. Meanwhile, the third address is associated with Gate.io exchange.

Previous Instances of Asset Freezing

Earlier in 2024, Tether took similar measures by freezing addresses holding an aggregate sum of 49.2 million USDT. Additionally, Tether has collaborated with U.S. Department of Justice efforts to trace and freeze $6 million linked to fraudulent activities.

Implications for the Crypto Market

The freezing of these assets reflects a broader commitment within the cryptocurrency industry to uphold security and integrity. By targeting wallets involved in scams or illegal activities, companies like Tether play a crucial role in safeguarding investor interests and maintaining trust in digital currencies.
This proactive approach not only deters potential fraudsters but also reassures investors about the stability offered by legitimate cryptocurrencies such as USDT.
Overall, these developments highlight an essential aspect of ongoing security enhancements in crypto markets aimed at fostering safer digital trading environments for all participants.

TAGGED:
Blockstream Refused to Pay Liquid Hackers Ransom for Remaining 598 BTC

After 3,400 BTC was returned following the September 6 Liquid Network incident, Blockstream said it would not pay a ransom for the remaining about 598.5 BTC, worth roughly $47 million.

3 Min Read
India Targets Tokenizing $627 Billion Worth of Corporate Bonds

India’s Securities and Exchange Board launched the Demat 2.0 pilot linking tokenized corporate bonds to the wholesale digital rupee, with three companies issuing 10.25 billion rupees in bonds by Sept.…

5 Min Read
US Treasury’s Over-$5B Buyback Fails to Halt 10-Year Bond Sell-Off

The U.S. Treasury accepted $5.2 billion in offers during its first expanded long-term bond buyback on September 10, while the 10-year yield subsequently approached 4.98%.

6 Min Read
Mexican Authorities Find 300-GPU Crypto Farm, Suspect Electricity Theft

Mexican authorities uncovered a suspected illegal cryptocurrency mining farm near the Necaxa dam in Tlaola, Puebla, finding about 300 GPUs and investigating possible electricity theft and money laundering.

4 Min Read
OpenAI Faces Lawsuit From Man Saying ChatGPT Convinced Him He Is Jesus

Michael Lines sued OpenAI and CEO Sam Altman, alleging ChatGPT reinforced religious delusions during a 2025 manic episode ending in a March suicide attempt; OpenAI said it is reviewing the…

5 Min Read