Tether blocked more than $5 million on 12 crypto addresses
Experts from the analytics platform MistTrack reported that on May 14, Tether, the issuer of the USDT stablecoin, continued to block suspicious accounts.
According to MistTrack, Tether continued its fight against fraud and illegal transactions on the digital asset market. In particular, on May 14, Tether froze USDT on 12 cryptocurrency wallets worth about $5.2 million. MistTrack believes that these addresses were on Tether's stop list because of their likely connection to phishing operations.
The Tether administration has repeatedly stated its voluntary cooperation with law enforcement agencies and readiness to comply with all orders to block users who have been placed on the Office of Foreign Assets Control (OFAC) sanctions list.
Tether CEO Paolo Ardoino said that since its inception, the company has actively cooperated with 124 law enforcement agencies in more than 40 countries. During the joint actions, more than $1.3 billion has been blocked in accounts, mostly related to various forms of fraud.