Conduit Sues Tether in New York, Alleges Improper Freeze of $2.76 Million in USDT
JH Kim
Summary
- Conduit said it filed a lawsuit in New York alleging that Tether froze $2.76 million in USDT without valid grounds.
- Conduit alleged that Tether improperly froze $2.76 million worth of USDT held by the company and had no basis for doing so.
- Conduit also alleged that Tether refused requests to unfreeze the USDT and return the funds.
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Conduit has sued Tether in New York, alleging that the stablecoin issuer froze $2.76 million in Tether (USDT) without valid grounds and refused to return the funds.
Walter Bloomberg reported on October 6 that Conduit filed the lawsuit in a New York court, claiming Tether improperly froze $2.76 million worth of USDT held by the company.
Conduit alleges Tether had no legitimate basis to freeze the funds.
It also claims Tether refused requests to unfreeze the USDT and return the money.
JH Kim
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