Tether Freezes 32 Addresses Connected to Terrorism in Israel and Ukraine
The Actions Taken by Tether in Combatting Terrorism and Warfare Funding
Tether, the issuer of the popular stablecoin USDT, has recently made a significant move in the fight against terrorism and warfare financing in Israel and Ukraine. As per Tether’s announcement, they have frozen a total of 32 crypto addresses that were found to be linked to these illegal activities. This action was taken in collaboration with Israel’s National Bureau for Counter-Terror Financing (NBCTF) and reflects Tether’s dedication to promoting responsible blockchain technology use and maintaining global security and financial integrity.
The Importance of Address Freezing in the Battle Against Terrorism
By freezing these addresses, Tether ensures that the users of these wallets will not be able to send USDT until the freeze is lifted. The 32 addresses were discovered to collectively hold $873,118 in USDT. This proactive approach by Tether showcases its commitment to preventing the misuse of cryptocurrencies for illicit purposes. Moreover, Tether highlighted its ongoing efforts and partnerships with various countries around the world, including the United States, Brazil, Singapore, Philippines, Germany, South Korea, Norway, Canada, Israel, India, the UK, and Ukraine, in fighting terrorism and warfare funding.
Tether’s Collaboration with Law Enforcement Agencies
Over the years, Tether has been an active participant in assisting law enforcement agencies worldwide. The company has aided 31 different agencies across 19 jurisdictions, resulting in a total freeze of $835 million in assets primarily related to theft, blockchain and exchange hacks, and other criminal activities. This collaboration with global law enforcement agencies reinforces Tether’s dedication to combatting cybercrime and offering a robust defense against illicit activities in the crypto space.
Binance’s Recent Involvement in Seizing Hamas-Linked Crypto Wallets
This recent development by Tether to freeze addresses tied to terrorism and warfare in Israel and Ukraine follows another noteworthy event. Just a week ago, Binance, one of the leading cryptocurrency exchanges, assisted Israeli police in seizing crypto wallets linked to Hamas, a terrorist organization. The swift action taken by Binance and law enforcement authorities demonstrates the industry’s commitment to preventing the misuse of cryptocurrencies.
Tether’s Past Actions in Response to Law Enforcement Requests
This is not the first time Tether has taken action based on law enforcement requests. In November 2022, the company froze $46 million worth of USDT stablecoins following a request related to an FTX wallet during the collapse of the exchange. These actions reaffirm Tether’s commitment to compliance and its willingness to cooperate with authorities to maintain a secure and transparent crypto ecosystem.
Tether’s decision to freeze 32 addresses linked to terrorism in Israel and Ukraine highlights the growing role of cryptocurrencies in illegal activities. Such actions by stablecoin issuers demonstrate their commitment to ensuring the responsible use of blockchain technology and maintaining global security. The crypto industry’s collaboration with law enforcement agencies is essential in deterring the misuse of cryptocurrencies for illicit purposes. Stay updated with the latest news in the crypto world by visiting Uber Crypto News.