Tether Freezes $39M in USDT Amid Growing Enforcement Cooperation

Tether has frozen approximately $39.3 million in USDT across 10 TRON addresses linked to Xinbi Guarantee, an illicit crypto marketplace on Telegram with a cumulative transaction volume of around $24.2 billion.

This freeze is part of Tether's growing cooperation with global law enforcement institutions, with over 340 agencies across 65 countries now working together. The company's centralized authority to freeze specific wallets has been exercised in this case, allowing it to block funds tied to illicit activity.

However, this power also raises questions about transparency and accountability, as seen in a recent lawsuit filed by two Thai businessmen challenging Tether's authority to freeze $42.4 million of their USDT.