Tether’s $700M Wallet Freeze Targets Iran-Linked Funds on Tron Network
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- Tether has frozen 112 wallets on the Tron and Ethereum networks holding ~$700M in USDT.
- An on-chain analyst linked the freeze to efforts to curb Iranian sanctions evasion.
- The majority of the frozen wallets are reportedly hosted on the Tron blockchain
Tether has frozen 112 wallets holding approximately $700 million in USDT on the Tron and Ethereum blockchains, a move that is linked to Israel-Iran tensions and at the same time when there is a renewed push within the US for stablecoin legislation.
The action was first highlighted by the on-chain analyst known as Cryptadamist, who revealed that the majority of the frozen wallets, particularly the top 40, are hosted on the Tron blockchain. The move has put a spotlight on the use of USDT and the Tron network by Iranian crypto users to potentially navigate international sanctions.
— @cryptadamist.universeodon.com.…
1/Ω
Since #Israel attacked #Iran Tether has frozen 112 addresses on Tron and Ethereum.
– Collectively those wallets received ~$700 million USDT before being frozen
– The top 40 of those wallets are *all* on Justin Sun's Tron blockchain
Iranian exchanges mostly use Tron USDT. pic.twitter.com/hzkYtCVmXq
The post Tether’s $700M Wallet Freeze Targets Iran-Linked Funds on Tron Network appeared first on Coin Edition.
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Coins
$ 1.99K
+1.55%
$ 0.287
+0.65%
$ 0.99970
-0.01%
$ 0.00...361
$ 0.690
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In This News
Coins
$ 1.99K
+1.55%$ 0.287
+0.65%$ 0.99970
-0.01%$ 0.00...361
$ 0.690
Share:
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Tether’s $700M Wallet Freeze Targets Iran-Linked Funds on Tron Network
Share:
- Tether has frozen 112 wallets on the Tron and Ethereum networks holding ~$700M in USDT.
- An on-chain analyst linked the freeze to efforts to curb Iranian sanctions evasion.
- The majority of the frozen wallets are reportedly hosted on the Tron blockchain
Tether has frozen 112 wallets holding approximately $700 million in USDT on the Tron and Ethereum blockchains, a move that is linked to Israel-Iran tensions and at the same time when there is a renewed push within the US for stablecoin legislation.
The action was first highlighted by the on-chain analyst known as Cryptadamist, who revealed that the majority of the frozen wallets, particularly the top 40, are hosted on the Tron blockchain. The move has put a spotlight on the use of USDT and the Tron network by Iranian crypto users to potentially navigate international sanctions.
— @cryptadamist.universeodon.com.…
Since #Israel attacked #Iran Tether has frozen 112 addresses on Tron and Ethereum.
– Collectively those wallets received ~$700 million USDT before being frozen
– The top 40 of those wallets are *all* on Justin Sun's Tron blockchain
Iranian exchanges mostly use Tron USDT. pic.twitter.com/hzkYtCVmXq
The post Tether’s $700M Wallet Freeze Targets Iran-Linked Funds on Tron Network appeared first on Coin Edition.
In This News
Coins
$ 1.99K
+1.55%$ 0.287
+0.65%$ 0.99970
-0.01%$ 0.00...361
$ 0.690
Share:
In This News
Coins
$ 1.99K
+1.55%$ 0.287
+0.65%$ 0.99970
-0.01%$ 0.00...361
$ 0.690
Share:
Read More
Tether Discontinues Support for CNH₮ Shifting Strategy