Tether Slams Brakes on Xinbi-Linked Wallets with $39 Million Freeze
Tether has frozen approximately $39 million in USDT tied to Xinbi, a Telegram-based escrow platform accused of facilitating illicit activity. The move, which occurred on September 8, marks another instance where Tether has acted unilaterally to freeze funds associated with criminal or sanctioned networks.
The affected wallets held around 39,273,713 USDT, according to MistTrack, a blockchain analytics firm. This is the latest example of how Tether exerts control over its stablecoin, even in the absence of public court orders.
Xinbi has been linked to billions of dollars in USDT transactions on the TRON network, with estimates suggesting nearly $24 billion have flowed through these wallets. The platform was sanctioned by the UK in March for alleged connections to scam compounds and human rights abuses.