Tether freezes $4.2 billion in illicit-linked USDT…steps up cooperation with the U.S. Justice Department
Suehyeon Lee
Summary
- Tether said it froze about $4.2 billion in USDT suspected of being linked to illicit activity.
- Tether said it additionally froze about $61 million tied to “pig-butchering” scams in cooperation with the U.S. Department of Justice.
- USDT total circulating supply has surpassed $180 billion, and Tether said it can remotely freeze tokens in wallets upon law enforcement requests.
Forecast Trend Report by Period
Stablecoin issuer Tether has reportedly frozen about $4.2 billion worth of Tether (USDT) suspected of being linked to illicit activity.
According to Reuters on the 27th (local time), Tether worked with the U.S. Department of Justice this week to additionally freeze about $61 million tied to so-called “pig-butchering” scams. This brings the cumulative amount of assets frozen in connection with illicit activity to $4.2 billion, of which $3.5 billion was frozen since 2023.
USDT’s total circulating supply has now surpassed $180 billion. Tether has the authority to remotely freeze tokens in users’ wallets upon requests from law enforcement agencies.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
