Tether freezes $5.2 million in USDT linked to phishing scams
Since its inception, Tether has frozen over $1 billion worth of assets linked to illicit activities on demand from law enforcement agencies.
Stablecoin issuer Tether froze USDT (USDT) worth $5.2 million linked to phishing scams on May 14. This USDT was stored in 12 Ethereum wallets tagged as “USDT Banned Address.”
On-chain analytic firm Slomist’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, CEO Paolo Ardoino said the firm has blocked more than $1.3 billion since its inception, and approximately $1.6 million is related to terrorist finance.
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Author: Prashant Jha
