• Tether froze a TRON wallet containing $29.62 million USDT.
• The frozen address is part of Cambodian Huione Group’s guarantee business.
• Huione Group activated the new address TQuFSv, transferring 114,800 USDC from the frozen account.

Prominent stablecoin issuer Tether has frozen a TRON wallet, TNVaKW, containing $29.62 million in USDT tokens, suspected to be linked to criminal activities and crypto money laundering. This action took place yesterday, July 13, as highlighted by a dedicated handle on X announcing banned addresses.

Meanwhile, Bitrace, a leading provider of compliance and investigative tools for law enforcement agencies, has weighed in on the development, providing additional context to why the Tron wallet was blacklisted.

According to Bitrace’s analysis, the frozen address is linked to the guarantee business of the Cambodian Huione Group, which was activated on July 9, 2024. However, Huione is attempting to circumvent the freeze by activating a new business address, TQuFSv, and transferring $114,800 USDC from the frozen TNVaKW address.

The post Tether Freezes $29.62M USDT Addresses Linked to Cambodian Huione Group appeared first on Coin Edition.

• Tether froze a TRON wallet containing $29.62 million USDT.
• The frozen address is part of Cambodian Huione Group’s guarantee business.
• Huione Group activated the new address TQuFSv, transferring 114,800 USDC from the frozen account.

Prominent stablecoin issuer Tether has frozen a TRON wallet, TNVaKW, containing $29.62 million in USDT tokens, suspected to be linked to criminal activities and crypto money laundering. This action took place yesterday, July 13, as highlighted by a dedicated handle on X announcing banned addresses.

Meanwhile, Bitrace, a leading provider of compliance and investigative tools for law enforcement agencies, has weighed in on the development, providing additional context to why the Tron wallet was blacklisted.

According to Bitrace’s analysis, the frozen address is linked to the guarantee business of the Cambodian Huione Group, which was activated on July 9, 2024. However, Huione is attempting to circumvent the freeze by activating a new business address, TQuFSv, and transferring $114,800 USDC from the frozen TNVaKW address.

The post Tether Freezes $29.62M USDT Addresses Linked to Cambodian Huione Group appeared first on Coin Edition.