Tether, the world's largest stablecoin issuer, said in a post on its X account that it had frozen 32 addresses linked to terrorism and war in Israel and Ukraine.
Making a detailed statement about the incident in its blog post, Tether announced that it had frozen 32 addresses containing $ 873,118.34, which were found to be linked to illegal activities in Israel and Ukraine.
Tether Freezes 32 Addresses Linked to Terrorism and Warfare in Israel and Ukraine
Read more:https://t.co/aKt3WOG1AS
— Tether (@Tether_to) October 16, 2023
Tether also stated that it is working with the NBCTF in Israel to counter cryptocurrency-financed terrorism and war.
“Tether, the world's largest cryptocurrency company, continues to take swift action against the illegal use of its stablecoin to finance terrorism and crime-related activities. At this point, Tether has been linked to illegal activities in Israel and Ukraine,” Tether said in a statement. “He froze 32 addresses containing $873,118.34,” he said.
Tether CEO Paolo Ardoino made the following statements in his statement on the subject:
“Cryptocurrency is a powerful tool, but it is not and should not be a tool for crime.
Contrary to popular belief, cryptocurrency transactions are not anonymous; these are the most traceable and traceable assets. Every transaction is recorded on the blockchain, making it possible for anyone to track the movement of funds.
As a result, criminals foolish enough to use cryptocurrencies in illegal activities will inevitably be detected.
Tether remains committed to promoting the responsible use of blockchain technology and being a strong defense against cybercrime.
“We look forward to continued collaboration with global law enforcement as part of our commitment to global security and financial integrity.”
*This is not investment advice.
