Tether assisted U.S. authorities in freezing and reissuing 1.6 million dollars

ChainCatcher News, U.S. authorities confirm that Tether has frozen and reissued approximately $1.6 million of USDT related to the Gaza financial network BuyCash, which is suspected of financing terrorist organizations. This freeze is part of a civil forfeiture case involving approximately $2 million by the U.S. Department of Justice.

Tether stated that this cooperation is one of its ongoing law enforcement collaboration efforts, having frozen over $2.9 billion in illegal funds to date and assisted 275 law enforcement agencies across 59 jurisdictions. The company's CEO, Paolo Ardoino, emphasized the transparency and traceability of USDT and Tether's important role in maintaining compliance in the digital asset ecosystem.