Thai Investors Sue Tether Over $42M Frozen USDT

Two Thai businessmen have filed a lawsuit against Tether, alleging that the stablecoin issuer unfairly froze $42.4 million of their USDT in October 2025 without a court warrant.

The freeze was linked to an investigation into crypto fraud, but the plaintiffs claim they were not involved and had no prior notice.

They seek to lift the blacklist, recover damages, and prevent Tether from burning or reissuing the frozen tokens while the case proceeds.