Tether Freezes Tron Network Addresses Holding $16.5 Million in USDT: What You Need to Know
CryptoNewsTerminal Staff09 Aug, 2024
Tether Freezes Tron Network Addresses Holding $16.5 Million in USDT: What You Need to Know
Tether, the issuer of the USDT stablecoin, has frozen three Tron network addresses holding an estimated $16.5 million in USDT. The move comes after an investigation into the addresses revealed that they were allegedly being used for money laundering and other illicit activities. According to Tether, the frozen addresses are all associated with a single individual. The company has not released the identity of the individual, but it is believed to be a major player in the cryptocurrency market. The freezing of the addresses is a significant development, as it shows that Tether is taking a proactive approach to combatting crime and misuse of its platform. It is also a reminder that even though USDT is a stablecoin, it is still subject to the same risks and regulations as other cryptocurrencies.
