Weeks after freezing an account holding $1 million worth of USDT, stablecoin issuer Tether has once again banned some addresses from using their holdings. However, this time, the figures are much higher.
As per data revealed by blockchain analytics platform Etherscan, Tether has frozen three addresses on Ethereum blockchain holding more than $160 million worth of USDT, Tether’s stablecoin pegged to US dollars. This will restrict the address owners from not moving their funds elsewhere.
Since 2017, Tether has banned more than 563 addresses on the Ethereum blockchain. Tether has not disclosed the owner of the address and its reason for freezing the accounts. However, a representative from Tether told crypto outlet Coindesk that it did so upon a request from law enforcement without revealing further details.
The owners of the funds were likely involved in theft, fraud, and money laundering. Tether has previously revealed that it regularly works with security forces to freeze the activities of addresses suspected of being involved in crime.