According to a press announcement on Monday, stablecoin issuer Tether has frozen cash in 32 cryptocurrency accounts connected to terrorism and conflict in Israel and Ukraine.
Tether stated that in an effort to combat terrorism and violence fueled by cryptocurrencies, it has been collaborating with Israel’s National Bureau for Counter Terror Financing (NBCTF). Tether disables a wallet’s ability to “send USDT” by freezing it; as a result, the owner cannot transfer money until the freeze is removed. $873,118 is the total value frozen at all 32 addresses combined.
With the Palestinian enclave Gaza currently under blockade, Tether’s revelation comes after claims from last week that cryptocurrency exchange Binance assisted Israeli police in seizing cryptocurrency wallets related to Hamas after the terrorist group’s unexpected offensive quickly descended into war.
The company’s CEO, Paolo Ardoino, stated that Tether is “remaining committed to promoting responsible blockchain technology use and standing as a robust defence against cybercrime.” “As part of our commitment to global security and financial integrity, we warmly anticipate further partnership with international law enforcement agencies.”
In response to a request from law enforcement over an FTX wallet during the collapse of the exchange, Tether froze $46 million worth of its USDT stablecoin at the end of November last year.