Taking an important step to ensure the security of its global user base, stablecoin issuer Tether (USDT) froze 41 wallets.
These wallets were under the control of individuals on the U.S. Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) List. The transaction took place on Saturday and was described by Tether as “precautionary measures.”
“This strategic decision is aligned with our unwavering commitment to maintaining the highest security standards for our global ecosystem and expanding our close working relationship with global law enforcement and regulators,” said Tether CEO Paolo Ardoino.
“By voluntarily freezing the wallet addresses of new additions to the SDN List and freezing previously added addresses, we will be able to further strengthen the positive use of stablecoin technology and promote a safer stablecoin ecosystem for all users.”
On-chain data reveals that many of the frozen wallets used cryptocurrency mixer service Tornado Cash within the last six months. One of these wallets is also linked to the $625 million Ronin Bridge attack by North Korean hacking group Lazarus Group, according to the U.S. Treasury Department.
*This is not investment advice.
