Tether Takes Action: $5.2M in USDT Frozen Due to Phishing Links
Tether is continuing to monitor and punish illicit activities. On May 14, it identified and froze USDT worth $5.2 million in an effort to enforce strict network controls and combat money laundering.
The illicit funds were first flagged by blockchain tracking platform MisTrack. The frozen USDT were distributed across 12 Ethereum (ETH) wallets, flagged as “USDT Banned Addresses.” The funds were suspected to have been laundered from numerous phishing schemes.
Tether’s proactive measures to combat illicit activities in the cryptocurrency industry have been highlighted by recent actions, showcasing the company’s commitment to preserving the integrity and security of the network.
In March 2024, Tether partnered with the US Department of Justice (DoJ) and the Federal Bureau of Investigation (FBI) to seize $1.4 million worth of USDT from a tech support scam network.
⚠️MistTrack Alert
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