Tether Takes Decisive Action to Freeze $5.2 Million in USDT Amid Phishing Concerns

Tuesday, 14 May 2024, 11:45

Tether, the world's largest stablecoin issuer, has frozen $5.2 million in USDT distributed across 12 Ethereum wallets to combat phishing-related security threats. This move is part of Tether's strategy to prevent financial crimes, including money laundering and phishing scams, within the cryptocurrency market.
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Tether Takes Decisive Action to Freeze $5.2 Million in USDT Amid Phishing Concerns

Tether's Response to Phishing Threats

Tether, the world's largest stablecoin issuer, has taken action to freeze $5.2 million in USDT across 12 Ethereum wallets to address phishing concerns.

Blockchain Security Platform Alert

  • MistTrack identified the frozen wallets as 'USDT Banned Addresses'.

Collaboration with Law Enforcement

  1. Tether has blocked over $1.3 billion linked to scams and hacks, with around $1.6 million related to terrorist financing.

This proactive approach signifies Tether's commitment to combating financial crimes and maintaining the credibility of cryptocurrencies.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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