Summary
- Victims of Iran-linked terrorist attacks have filed a lawsuit against Tether seeking the return of about $344 million in frozen USDT assets.
- The plaintiffs said 344.14 million USDT held in wallets linked to the IRGC and sanctioned by OFAC should be used to fund compensation for victims.
- The plaintiffs also cited past cases in which Tether transferred funds under U.S. government seizure orders, arguing the current frozen assets should be transferred in the same way.
Forecast Trend Report by Period
Victims of Iran-linked terrorist attacks and their relatives have sued Tether in U.S. court, seeking the release of about $344 million in frozen assets.
The Block reported on May 15 that the plaintiffs asked the U.S. District Court for the Southern District of New York to turn over 344.14 million USDT held in wallets linked to Iran’s Islamic Revolutionary Guard Corps, or IRGC. The wallets were sanctioned by the U.S. Treasury Department’s Office of Foreign Assets Control, or OFAC.
The plaintiffs had already won damages judgments in U.S. courts over past Iran-linked terrorist attacks. They argue the wallets tied to the IRGC are effectively Iranian assets and that the frozen funds should be used to satisfy those awards. They also said Tether has previously transferred funds in similar cases under U.S. government seizure orders.
Tether froze the wallets on April 24 after OFAC added the addresses to its Specially Designated Nationals, or SDN, list.
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