18.06.2025 04:00
Tether, the prominent stablecoin issuer, swiftly acted to freeze $12.3 million worth of USDT on the Tron blockchain on Sunday. This decisive move, based on Tronscan reports, targeted wallets suspected of involvement in illicit activities, specifically money laundering and sanctions evasion. While the company hasn't yet released an official statement, the on-chain data unequivocally points to this conclusion.
Tether's proactive approach stems from its dedicated T3 Financial Crime Unit (FCU). This unit, collaborating with Tron and TRM Labs, monitors suspicious transactions in real-time. Since late 2024, the FCU has impressively frozen over $126 million in questionable assets—a significant portion of which, $100 million, was blocked in the final quarter of that year alone. This surge in enforcement reflects a heightened response to increasingly stringent global regulations.
This recent action aligns with Tether's established practice of blacklisting wallets linked to sanctioned entities. Working in concert with the US Treasury's Office of Foreign Assets Control (OFAC), Tether routinely targets individuals listed as Specially Designated Nationals (SDNs). A notable example is the March 2025 freezing of $27 million in USDT on Garantex, a Russian-linked exchange, following the EU's sixteenth sanctions package. This action followed Garantex’s subsequent suspension of services and their announcement of over 2.5 billion rubles in frozen user funds.
The impact of Tether's actions extends to significant actors in the cybercrime world. For instance, in November 2023, Tether blacklisted $374,000 in USDT associated with North Korea's Lazarus Group, notorious for its crypto theft operations—accumulating over $3 billion since 2009. This proactive measure wasn't isolated; other stablecoin providers joined forces to freeze an additional $3.4 million across the same implicated wallets. This coordinated response showcases the power of major players in disrupting state-sponsored hacking operations.
Beyond its robust anti-money laundering efforts, Tether has demonstrated a commitment to diversifying its reserves. On June 12, 2025, the company acquired a substantial 32% equity stake in Elemental Altus Royalties, purchasing over 78 million shares at a cost of approximately $89 million. This strategic investment in a gold royalty company reinforces Tether's commitment to backing its stablecoin with real-world assets, a move intended to bolster confidence among investors and regulators alike. This dual strategy, combining rigorous enforcement with tangible asset diversification, represents a novel approach to stablecoin governance, according to Tether executives, aiming to set a new industry standard.
