Tether froze three Ethereum addresses

Etherscan data indicates that Tether, the issuer of the most famous stablecoin in the world, frozen three addresses on the Ethereum network holding more than $160 million on Thursday.

According to MarketWatch, a representative of Tether confirmed that these three addresses were added to its “blacklist” at the request of law enforcement. However, he refused to provide further details.

Additionally, the company stated it regularly assists international law enforcement agencies in investigating “tracking” criminals. It has blocked a total of 563 addresses since 2017. The last address – with over USDT 1 million – was frozen at the end of December 2021.

The company began blacklisting addresses potentially related to criminals in November 2017. Then the funds at the address with 30 million USDT were frozen.

Cryptocurrency crime

Crime in the cryptocurrency market has reached a new record high in 2021. During the whole year, addresses with illegally obtained funds received a total of as much as 14 billion dollars. A year earlier, it was “only” 7.8 billion dollars. Such calculations were recently given by Chainalysis.

As a result of an increase in cryptocurrency theft, law enforcement agencies have been paying more attention to the market. The Internal Revenue Service’s criminal investigation unit announced in November that it had seized $3.5 billion in cryptocurrency during its non-tax investigations for the same period. This represents as much as 93% of all funds confiscated during the period.

Read Also: Bitcoin Is Ready For The Digital Revolution, Says The International Monetary Fund

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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