Tether freezes 32 addresses linked to terrorism in Israel and Ukraine

Key takeaways

• Stablecoin issuer Tether has frozen over 30 crypto addresses linked to terrorism and warfare in Ukraine and Israel.

• The crypto addresses held over $800k collectively.

Tether freezes crypto addresses linked to warfare in Ukraine and Israel

Tether, the issuer of the USDT stablecoin, announced in a blog post on Monday that it has frozen 32 addresses linked to terrorism and warfare in Israel and Ukraine.

The company confirmed that it has been working with Israel’s National Bureau for Counter-Terror Financing (NBCTF) to fight cryptocurrency-funded terrorism and warfare. 

Freezing the addresses means that the wallet users won’t be able to send USDT until the freeze is lifted. According to Tether, the 32 wallets held $873,118in USDT. Tether added that,

“To date, Tether has aided 31 agencies worldwide with investigations across 19 jurisdictions, freezing a total of $835 million in assets mostly associated with theft (blockchain and exchange hacks) with a minor portion to other crimes.”

The company added that it has partnered with countries, including the United States, Brazil, Singapore, Philippines, Germany, South Korea, Norway, Canada, Israel, India, the UK and Ukraine, to fight terrorism and warfare funding. 

Tether CEO Paolo Ardoino pointed out that,

“Tether remains committed to promoting responsible blockchain technology use and standing as a robust defence against cybercrime. We eagerly anticipate continued collaboration with global law enforcement agencies as part of our commitment to global security and financial integrity.”

This latest cryptocurrency news comes a week after Binance helped Israeli police seize Hamas-linked crypto wallets after a surprise attack by the terrorist organisation quickly turned into war. 

In November 2022, Tether froze $46 million worth of USDT stablecoins following a law enforcement request regarding an FTX wallet during the exchange’s collapse.