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▲ Tether (USDT), asset freeze/AI-generated image
Tether (USDT) has moved to block illegal funds by freezing assets worth an unprecedented $344 million. It has decisively blocked fund flows suspected of being involved in criminal activities.
According to a Decrypt report on April 23 (local time), Tether froze several wallet addresses confirmed to be involved in illicit activities. This action was taken in close cooperation with the U.S. Office of Foreign Assets Control (OFAC) and investigative agencies. The total frozen amount reached 344 million USDT.
The frozen wallets were primarily operating on the Tron network. Tether complied with law enforcement requests, immediately halting the movement of these assets. Tether CEO Paolo Ardoino stated, "We will continue to cooperate with authorities to prevent forces that try to exploit technology." Ardoino emphasized transparency in the financial ecosystem and added his commitment to enhancing security levels.
Tether has previously frozen hundreds of millions of dollars in assets, demonstrating its commitment to regulatory compliance. This latest freeze is expected to be recorded as one of the largest single actions. As stablecoins are increasingly used in criminal activities within the virtual asset market, Tether's monitoring network is becoming more stringent.
Stablecoin issuers have the authority to immediately freeze assets upon request from investigative agencies. This action is regarded as a proactive response by an issuer amid intensifying scrutiny from regulatory authorities. The cooperation system to prevent illegal funds from entering the virtual asset market is expected to be further strengthened in the future.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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