Tether freezes $4.2 billion USD Tether related to illegal activities

According to Reuters, the issuer of the stablecoin Tether has frozen approximately $4.2 billion worth of USDT related to illegal activities, of which about $3.5 billion has been frozen since 2023. This week, the company also collaborated with the U.S. Department of Justice to freeze nearly $61 million linked to "pig-butchering" scams—large-scale cryptocurrency investment fraud schemes.

Currently, the total circulating supply of USDT has exceeded $180 billion, solidifying its position as the largest stablecoin in the market. Tether stated that they have the ability to remotely freeze tokens from user wallets when receiving an official request from law enforcement agencies, to assist investigations and limit funds related to financial crimes.