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Tether Enforces Freeze On $12 Million In Tron Funds Over Illicit Activity
- Tether freezes $12.3 million worth of USDT on the Tron blockchain targeting wallets linked to illicit activities like money laundering and sanctions evasion.
- Tether's T3 Financial Crime Unit partners with Tron and TRM Labs to monitor suspect transactions, leading to over $126 million in frozen assets since late 2024.
- The company aligns with regulatory bodies like the US Treasury’s Office of Foreign Assets Control (OFAC) to blacklist wallets associated with sanctioned individuals, such as those on the SDN list.
- In March 2025, $27 million in USDT was frozen on the Russian-linked exchange Garantex following EU sanctions, impacting user funds.
- Tether blacklisted $374,000 in USDT tied to North Korea’s Lazarus Group, known for moving over $3 billion in stolen crypto since 2009, with other stablecoin companies also blocking funds from identical wallets.
- Tether purchased a 32% equity stake in Elemental Altus Royalties on June 12, 2025, for about $89 million, aiming to diversify its assets with real-world value like gold royalties.
- The move signifies Tether's commitment to backing its stablecoin with tangible assets to satisfy risk-averse regulators and enhance stability.
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