Tether, the issuer of the USDT stablecoin, has recently frozen 32 cryptocurrency addresses that are linked to terrorism and warfare in Israel and Ukraine. This move comes as part of Tether’s collaboration with Israel’s National Bureau for Counter-Terror Financing (NBCTF) in their fight against cryptocurrency-funded terrorism.
By freezing these addresses, Tether prevents the wallet users from making any transactions involving USDT until the freeze is lifted. The total amount held in these 32 wallets amounts to $873,118 in USDT. Tether has been actively assisting various agencies worldwide in their investigations, freezing a total of $835 million in assets associated with different crimes, primarily theft.
Tether CEO Paolo Ardoino expressed the company’s commitment to promoting responsible blockchain technology usage and acting as a robust defense against cybercrime. Tether aims to collaborate with global law enforcement agencies to ensure global security and financial integrity.
It’s worth noting that this development follows Binance’s assistance to Israeli police in seizing Hamas-linked crypto wallets after a surprise attack by the terrorist organization escalated into war. Tether’s actions highlight their dedication to partnering with various countries, including the United States, Singapore, Germany, and the UK, to combat terrorism and warfare funding through cryptocurrencies.
In November 2022, Tether froze $46 million worth of USDT stablecoins following a law enforcement request related to an FTX wallet during the exchange’s collapse. These instances demonstrate Tether’s active role in assisting law enforcement agencies and upholding the integrity of the financial ecosystem.
While the article does not mention the original author, it provides valuable information about Tether’s efforts to combat terrorism and warfare funding through freezing crypto addresses. Tether’s actions demonstrate the potential for blockchain technology and stablecoin issuers to contribute to global security and financial integrity.