Coin Edition -
- Tether froze 5.2 million USDT tokens as per a May 14 post from MistTrack.
- The tokens were associated with 12 Ethereum addresses.
- The addresses might be connected to laundering addresses for phishing groups.
Tether, the firm associated with the world’s largest stablecoin by market capitalization, froze 5.2 million USDT on May 14 as per the data from MistTrack, a crypto tracking and compliance platform.
In a post on social media platform X (formerly known as Twitter), MistTrack stated that the stablecoin firm froze 5.2 million USDT on 12 Ethereum addresses tagged as “USDT Banned Address” by the crypto tracking platform.
Notably, these 12 addresses may be money laundering addresses for phishing groups. It is a common practice for attackers to withdraw their funds to another platform and use crypto mixers to launder their money.
Back in November 2023, the stablecoin issuer announced the “largest-ever freeze of USDT in history” while teaming up with digital asset trading platform OKX. Over 225 million USDT tokens associated with 37 wallets were frozen, and the funds were tied to a human trafficking group on Monday.
Further, the stablecoin issuer also froze 41 wallets controlled by those on the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals (SDN) List in December 2023.It is important to note that crypto firms have been actively freezing addresses associated with scammers and hackers. As per earlier reports, Binance and Huobi froze $1.4 million worth of crypto assets that were associated with Lazarus Group’s Harmony Bridge heist in June 2022.
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