Tether freezes 32 addresses linked to terrorism in Israel and Ukraine

October 16, 2023 09:14 AM PDT | By Invezz

Tether freezes 32 addresses linked to terrorism in Israel and Ukraine — Image source: Invezz

Tether has frozen over $835 million

An announcement the company published on Monday indicated that the action to freeze the addresses was a result of Tether’s collaboration with law enforcement agencies. As well as the Israeli National Bureau for Counter Terror Financing, Tether says it has worked with 18 other agencies across the globe.

In total, investigations across the 19 jurisdictions have seen a total of $835 million in stolen assets – including from exchange hacks – frozen. 32 of the frozen addresses are linked to illegal activity in Ukraine and Israel, the company wrote in a blog post.

Commenting on the revelations, Paolo Ardoino, recently appointed Tether CEO, said:

“Cryptocurrency is a powerful tool, but it is not a tool for crime. 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.”

Tether’s move comes barely a week after leading crypto exchange Binance announced it had helped Israeli police freeze Hamas-linked crypto accounts.

The post Tether freezes 32 addresses linked to terrorism in Israel and Ukraine appeared first on Invezz

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