Get Breaking Alerts on Stocks Before The Mainstream Media

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We guarantee you to keep your privacy
Connect with us
Financial Press
crypto:-stablecoin-issuer-tether-freezes-three-addresses-holding-$160-million-of-assets-upon-law-enforcement-request
crypto:-stablecoin-issuer-tether-freezes-three-addresses-holding-$160-million-of-assets-upon-law-enforcement-request

Breaking

Crypto: Stablecoin issuer Tether freezes three addresses holding $160 million of assets upon law enforcement request

Tether, issuer of the world’s largest stablecoin USDT
USDTUSD,
,
on Thursday froze three addresses on the Ethereum blockchain holding $160 million of its assets.

The company blacklisted the addresses upon request from law enforcement, a representative of Tether told MarketWatch, while declining to provide further details.

Cryptocurrency-based crime hit a new all-time high in 2021, with illicit addresses receiving $14 billion during the year, up from $7.8 billion in 2020, according to a recent Chainalysis report.

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We are Spam free & Secure 🙂

The rise in crime has attracted growing attention from law enforcement agencies. The Internal Revenue Service’s Criminal Investigations unit said in November that it seized $3.5 billion in cryptocurrency in nontax investigations during the fiscal year, which makes up 93% of all funds seized during the same period.

Tether said it regularly helps international law enforcement agencies with investigations “to trace and potentially freeze wallets” in a letter published in the South China Morning Post in 2021. The company has blocked 563 addresses since 2017, according to data analytics site Bloxy.

Written By

Click to comment

Leave a Reply

Your email address will not be published.

Related Articles

Breaking

This report has been corrected with updated data for a prior share-price decline. Verizon Communications Inc. recently offered a better-than-expected earnings outlook for the...

Breaking

An earlier version of this report misstated AT&T’s postpaid net additions. It has been corrected. A leaner AT&T Inc. topped revenue expectations Wednesday as...

Breaking

Teradyne Inc.’s first-quarter financial guidance fell short of Wall Street projections, sending shares down nearly 20% in after-hours trading to $115.03. The company projected...

Breaking

Lam Research Corp. shares plunged in late trading Wednesday after the chip-equipment supplier reported worse-than-expected fiscal second-quarter revenue and third-quarter guidance, which the chief...

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We are Spam free & Secure :)

Get Breaking Stock Alerts

Email address

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address