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- Tether has suspended the cryptocurrency wallet holding 1,012,606 USDT tokens.
- This marks the fifth account to be restricted since the beginning of the year.
Tether, the leading provider of stablecoins globally, has once again attracted attention with the suspension of another account. As reported, an additional address on the Tron network, which holds a significant quantity of USDT, has been frozen. A total of five accounts have been restricted since the year’s start.
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Tether has the authority to block addresses linked to illicit activities such as money laundering and those suspected of engaging in fraudulent practices. The stablecoin issuer has been freezing cryptocurrency addresses since 2017, following requests from financial regulators and law enforcement agencies. The report indicates that the company has restricted approximately 820 crypto addresses valued at over half a billion dollars.
Recently, Tether suspended the cryptocurrency wallet containing 1,012,606 USDT on the Tron network. This is not the first instance of Tether freezing an account. This action has raised apprehensions among Tether users, particularly those who depend on stablecoins for everyday transactions.
Concurrently, USDT maintains its leading position in the stablecoin market, boasting a market capitalization exceeding $81 billion at the time of this writing.
