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According to a blog posted on October 16, Tether, the issuer of the popular USDT stablecoin, has reportedly frozen some 32 addresses over alleged links to “illicit activity” in the ongoing conflicts in Israel and Ukraine. These addresses reportedly contained more than $870,000 in assets.
“Tether, the largest stablecoin company in the world, reaffirmed its commitment to working closely with law enforcement agencies across the globe to combat cryptocurrency-funded terrorism and warfare” reads the post.
According to the post, Tether has now helped in freezing a staggering $835 million in cryptocurrency linked to malicious activity and, in doing so, has now aided 31 agencies worldwide, across 19 different jurisdictions.
The post also issued a harsh criticism of traditional journalists, who are “failing to hold the slow or poorly equipped traditional financial system accountable” and “making attempts to spin a case against the crypto industry”.
According to Tether CEO, Paolo Ardoino, “Contrary to popular belief, cryptocurrency transactions are not anonymous; they are the most traceable and trackable assets. Every transaction is recorded on the blockchain, making it feasible for anyone to trace fund movements. Consequently, criminals foolish enough to employ cryptocurrencies for illegal activities will inevitably be identified.”