Tether freezes crypto linked to 'terrorism and warfare' in Israel and Ukraine
Tether has frozen 32 crypto wallet addresses containing a combined $873,118 it said were linked to «terrorism and warfare» in Israel and Ukraine, the company said on Monday.
Israeli police said last week they had frozen crypto accounts used to solicit donations for Hamas on social media. Hamas' Oct. 7 attack on Israel killed 1,300 people.
Tether did not say when they froze the addresses.
TRM Labs, a major U.S. blockchain analysis company that works with law enforcement agencies, said in a blog in February that Tether was a «currency of choice» for terrorist financing.
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View Details» Tether said that it is committed to «working closely» with law enforcement agencies globally «to combat cryptocurrency-funded terrorism and warfare.»
Crypto operates mostly outside of the traditional financial system and wallet addresses are pseudonymous, which makes those behind transactions difficult to track.
Tether, whose stablecoin is the third-largest cryptocurrency by circulation, said it was working with Israel's National Bureau for Counter Terror Financing (NBCTF) «to counter cryptocurrency-funded terrorism and warfare,» without giving further details.
A stablecoin is a cryptocurrency type usually underpinned by assets such as dollars to hold steady value.
Tether did not provide details of the owners of the wallet addresses or the nature of their activity. It did not provide a breakdown of the split between
