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

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Tether, the world’s largest stablecoin USDT USDTUSD issuer,
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On Thursday, three addresses holding $160 million in assets on the Ethereum blockchain were frozen.

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The company blacklisted the addresses at the request of law enforcement, a Tether representative told Businesshala, refusing to provide further details.

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

The increase in crime has attracted the attention of law enforcement agencies. The Criminal Investigation Unit of the Internal Revenue Service said in November that $3.5 billion in cryptocurrency seized In non-tax checks during the financial year, that makes up 93% of all the money seized during the same period.

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Tether said Provides regular assistance to international law enforcement agencies With the investigation “to trace and potentially freeze the wallet” in a letter published in the South China Morning Post in 2021. According to data analytics site Bloxi, the company has blocked 563 addresses since 2017.

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