Tether Freezes $4.2B in USDt Linked to Suspected Crime

[bonk]

Tether has reportedly frozen around $4.2 billion worth of its dollar-pegged stablecoin USDt over the past three years, targeting wallets tied to suspected criminal activity. According to reports, most of the restrictions occurred after 2023 as global regulators and law enforcement agencies increased scrutiny of crypto-related fraud and sanctions evasion.

USDt remains the largest stablecoin in circulation, with more than $180 billion outstanding — up sharply from roughly $70 billion three years ago. Tether has the ability to blacklist wallet addresses directly on the blockchain when requested by authorities, effectively freezing funds and preventing further transfers. The move highlights the growing role of stablecoin issuers in supporting cross-border enforcement actions.

[kevin1]

4.2 billion frozen that’s not a feature that’s a superpower