Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»Tether announces voluntary wallet freeze policy
TRADING NEWS

Tether announces voluntary wallet freeze policy

By Crypto FlexsDecember 11, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Tether announces voluntary wallet freeze policy
Share
Facebook Twitter LinkedIn Pinterest Email

Tether, the world’s largest stablecoin issuer, announced a voluntary freeze policy for individuals subject to OFAC sanctions, stepping up its efforts to cooperate with law enforcement.

Tether said this voluntary measure is designed to prevent misuse of Tether’s USDT and strengthen its security measures.

Tether’s Voluntary Freeze Policy

Tether announced the news of its voluntary freeze policy in a blog post on December 9th. The company has begun offering secondary market controls to freeze wallets and wallet activity linked to sanctioned individuals on the U.S. Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list. All companies and individuals controlled by or associated with sanctioned countries are also included in the list.

Tether said this policy will complement its existing security protocols and is designed to actively collaborate with global regulators and law enforcement agencies.

“On December 1, 2023, the Company decided to launch a new voluntary wallet freeze policy designed to prevent activity involving sanctioned persons on the Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list. Tether will now provide secondary markets with the sanctions controls it already has in place for wallets on its platform.”

Affected Wallets

According to blockchain data from Etherscan, Tether has frozen 161 Ethereum wallets. Of these, 150 wallets had 0 USDT. It is also unclear whether any of these wallets held USDT at any point in the past. The remaining 11 wallets hold over 3.5 million USDT, but almost all tokens (3.4 million USDT) are held in just one wallet. Blockchain investigator ZachXBT linked the wallet address to the hack of betting platform Stake. The wallet was active just before the freeze and has completed hundreds of transactions over the past week.

Of the remaining wallets, two hold 20,000 USDT each and the third holds approximately 60,000 USDT.

Tether’s changing position

The U.S. Treasury is already using SDN lists to curb cryptocurrency transactions linked to illicit activities, including terrorist financing and unauthorized distribution of fentanyl. Wallets previously added to the SDN list have already been frozen by Tether, a move that contradicts the company’s previous stance on the matter. In 2022, the company said it would not actively freeze authorized addresses associated with Tornado Cash unless instructed to do so by law enforcement. OFAC has repeatedly stated that criminal organizations and individuals have been using Tornado Cash to launder more than $7 billion in cryptocurrency since 2019. Paolo Ardoino, CEO of Tether, commented on this proactive stance:

“This strategic decision is consistent with our firm commitment to maintaining the highest safety standards for our global ecosystem and expanding our close partnership with global law enforcement and regulators. By voluntarily freezing newly added wallet addresses to the SDN list and freezing previously added addresses, we can further strengthen the positive use of stablecoin technology and promote a more secure stablecoin ecosystem for all users. “It will be.”

Tether’s current market capitalization is over $90 billion, indicating strong and growing demand for the USDT stablecoin.

Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

AI and Bitcoin mining stocks soar after OpenAI closes multibillion-dollar chip deal with AMD

October 17, 2025

Will Solana price fall to $170 once it gets close to the important support level?

October 16, 2025

XRP price falls 6% as market crash causes whales to flee

October 15, 2025
Add A Comment

Comments are closed.

Recent Posts

The Great Inheritance and Crypto: What you need to know.

October 17, 2025

6 Best AI Quant Bots To Use In 2025: Smarter Trading Starts Here

October 17, 2025

AI and Bitcoin mining stocks soar after OpenAI closes multibillion-dollar chip deal with AMD

October 17, 2025

MEXC Celebrates ZEROBASE (ZBT) Listing With Airdrop+ Event Featuring 55,000 USDT Prize Pool

October 16, 2025

How MasterQuant’s AI Trading Bot Is Becoming Every Investor’s Favorite Trade Machine

October 16, 2025

Seascape Launches First Tokenized BNB Treasury Strategy On Binance Smart Chain

October 16, 2025

ETH And BTC Holders Are Flocking To OAK Mining For Stable Profits Of $8,600 Daily

October 16, 2025

Will Solana price fall to $170 once it gets close to the important support level?

October 16, 2025

Crypto Market Rebound, L2 Surge and ZEC Shock: Daily Insights

October 16, 2025

ZBCN is tradable!

October 15, 2025

Analysts expect a breakout of $135 as ETF approval buzz grows.

October 15, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

The Great Inheritance and Crypto: What you need to know.

October 17, 2025

6 Best AI Quant Bots To Use In 2025: Smarter Trading Starts Here

October 17, 2025

AI and Bitcoin mining stocks soar after OpenAI closes multibillion-dollar chip deal with AMD

October 17, 2025
Most Popular

SEC filing counters accusations of Coinbase ‘power grab’

May 13, 2024

Luminary Cloud Accelerates Engineering Simulations with NVIDIA GPUs

July 28, 2024

Revolutionize Reality: The Ultimate Guide to Virtual Reality Technology – The Defi Info

February 27, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.