Tether Freezes 1,850 Addresses Linked to Illegal Activities Since Inception

Tether Freezes 1,850 Addresses Linked to Illegal Activities Since Inception

Tether, the issuer of the USDT stablecoin, announced on its official website that it has frozen 1,850 addresses linked to illegal activities since its inception. The move is part of Tether's ongoing efforts to combat financial crime and protect its users. Tether's announcement is the latest in a series of actions taken by the company to address concerns about the use of cryptocurrency for illicit purposes. In 2018, Tether launched a partnership with blockchain forensics firm CipherTrace to develop tools to identify and freeze addresses associated with criminal activity. The freezing of 1,850 addresses is a significant step forward in Tether's efforts to combat financial crime. It sends a clear message that Tether is committed to working with law enforcement and regulators to ensure that its platform is not used for illegal activities. Tether's actions are also in line with the broader trend of increased regulation of the cryptocurrency industry. In recent years, governments around the world have been taking steps to crack down on the use of cryptocurrency for money laundering, terrorism financing, and other crimes. Tether's announcement is a welcome step forward in the fight against financial crime. It demonstrates the company's commitment to working with law enforcement and regulators to ensure that its platform is not used for illegal activities.