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▲ Tether (USDT), Asset Freeze/AI Generated Image
Tether (USDT) has moved to block illicit funds by freezing assets worth $344 million, the largest amount in its history. It has completely blocked fund flows suspected of being involved in criminal activities.
According to a Decrypt report on April 23 (local time), Tether froze several wallet addresses confirmed to be involved in illegal activities. This action was taken in close cooperation with the U.S. Office of Foreign Assets Control (OFAC) and investigative agencies. The total frozen amount reached 344 million USDT.
The frozen wallets were primarily operating on the Tron network. Tether accepted requests from law enforcement agencies and immediately halted the movement of these assets. Tether CEO Paolo Ardoino stated, "We will continue to cooperate with authorities to prevent those who try to misuse technology." Ardoino emphasized the transparency of the financial ecosystem and added his commitment to enhancing security levels.
Tether has previously demonstrated its commitment to regulatory compliance by freezing hundreds of millions of dollars in assets. This latest freeze is expected to be recorded as one of the largest single actions. As stablecoins are increasingly used for criminal activities in the virtual asset market, Tether's surveillance network is becoming more stringent.
Stablecoin issuers have the authority to immediately freeze assets upon request from investigative agencies. This measure is considered an example of an issuer proactively responding amidst increased scrutiny from regulatory authorities. The cooperation framework to prevent illegal funds from entering the virtual asset market is expected to be further strengthened in the future.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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