Stablecoin producer Tether has blocked some addresses linked to illegal activities.
According to the statement made by Tether, it was found to be linked to some illegal activities in Israel and Ukraine. 32 addresses were frozen. In total among the addresses $873,118 worth of funds were available.
Tether, cryptocurrencies in terrorism financing is working with NBCTF in Israel to prevent its use.
Tether’s newly appointed CEO, Paolo Ardoino, said the following about the frozen accounts:
“Contrary to popular belief, cryptocurrency transactions are not anonymous and cryptocurrencies are the most traceable assets. “Every transaction is recorded on the blockchain, so anyone can track the movement of funds.”
Tether, which supports investigations conducted in dozens of countries around the world, has frozen funds worth a total of $835 million so far.