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Tether Freezes 32 Crypto Addresses Linked to Terrorism, Warfare in Israel and Ukraine
The combined value across the frozen wallets equated to $873,118.
Updated Oct 16, 2023, 7:38 p.m. Published Oct 16, 2023, 12:50 p.m.
Stablecoin issuer Tether has frozen funds in 32 cryptocurrency addresses linked to terrorism and warfare in Israel and Ukraine, according to a Monday press release.
Tether said that it has been working with Israel's National Bureau for Counter Terror Financing (NBCTF) to counter cryptocurrency-funded terrorism and warfare. By freezing a wallet, Tether restricts the "send USDT" function of that wallet, meaning that the owner cannot transfer funds until the freeze is lifted.
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The combined value frozen across the 32 addresses equates to $873,118.
Tether's announcement follows reports from last week that crypto exchange Binance helped Israeli police seize Hamas-linked crypto wallets after a surprise attack by the terrorist organization quickly spiraled into war, with Palestinian enclave Gaza still under siege.
"Tether remains committed to promoting responsible blockchain technology use and standing as a robust defense against cybercrime,” said newly-appointed Tether CEO Paolo Ardoino. “We eagerly anticipate continued collaboration with global law enforcement agencies as part of our commitment to global security and financial integrity.”
Tether froze $46 million worth of its USDT stablecoin last November following a law enforcement request in relation to an FTX wallet during the exchange’s collapse.
UPDATE (Oct. 16, 13:06 UTC): Adds report of Binance working with Israel to freeze Hamas-linked accounts from last week.
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