Tether Slams Brakes on Iranian Illicit Activities, Freezes Over Half a Billion Dollars
Tether has taken decisive action against Iran's illicit activities in the cryptocurrency space. The stablecoin issuer has frozen over half a billion dollars in USD₮ linked to Iranian entities since the beginning of the year.
The freezes occurred across multiple wallets and addresses, with nearly $344 million being blocked in April. This was followed by another significant freeze of $130 million in July, which targeted four separate wallets deemed affiliated with the Central Bank of Iran.
Tether's CEO, Paolo Ardoino, emphasized that these actions demonstrate the company's commitment to combating illicit activities and terrorist financing. He noted that public blockchains provide authorities with valuable insights into financial transactions, enabling Tether to take swift action when credible information is provided by law enforcement.