Tether freezes $1.6 million USDT… Cooperates with terrorism investigation
JOON HYOUNG LEE
Summary
- Tether announced that it froze $1.6 million worth of USDT in cooperation with U.S. authorities' terrorism investigation.
- The frozen assets are reportedly related to the Gaza Strip-based cryptocurrency exchange, BuyCash.
- Tether stated it supported the authorities' legitimate recovery procedures by reissuing the frozen assets.
Tether (USDT) recently froze and subsequently reissued $1.6 million worth of Tether in cooperation with U.S. authorities' terrorism investigation.
On the 24th (local time), Tether announced on its official website that it had frozen and reissued $1.6 million worth of Tether associated with BuyCash. BuyCash is a cryptocurrency exchange based in the Gaza Strip, Palestine.
BuyCash is suspected of being involved in financing terrorism in the Middle East. Tether stated, "This action is part of a civil forfeiture case announced by the U.S. Department of Justice (DOJ)," and, "By swiftly freezing and reissuing funds related to terrorist organizations, (we) supported the authorities' legitimate asset recovery procedures."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul