Tether freezes 32 addresses related to terrorism in Israel and Ukraine

Tether, the issuer of the world’s largest stablecoin USDT, said it froze 32 cryptocurrency addresses related to terrorism and warfare in Israel and Ukraine. 

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Fast Fact

• The 32 addresses contained a total of US$873,118 in USDT, Tether said on Monday. 

• “Cryptocurrency is a powerful tool, but it is not a tool for crime,” said Paolo Ardoino, the newly appointed chief executive officer of Tether. “Contrary to popular belief, cryptocurrency transactions are not anonymous; they are the most traceable and trackable assets.”

• Tether estimated that it froze a total of US$835 million worth of funds associated with hacks, across 19 jurisdictions worldwide.
• Israel declared war on Hamas on Oct. 7 after the Gaza-based Palestinian militant group carried out an attack in Israel, prompting a retaliation airstrike in Gaza.

• Israeli crypto firms launched an emergency crypto fund on Oct. 9, to aid war-stricken citizens. On Oct. 10, The Israel Police said it froze crypto accounts allegedly used by the Gaza-based Palestinian militant group Hamas. 

• Crypto acted as a source of fundraising in the ongoing Russo-Ukraininan war for both sides.

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