Tether Implements Game-Changing Wallet-Freezing Policy for Sanctioned Crypto Users
Tether, the stablecoin issuer, has frozen 41 wallets controlled by individuals on the Office of Foreign Assets Control's (OFAC) Specially Designated Nationals (SDN) List. The move is described as a precautionary measure, and some of the wallets were found to have used the coin-mixing service Tornado Cash. One of the frozen wallets is linked to the $625 million Ronin Bridge attack, attributed to the North Korean hacking group Lazarus Group. Tether aims to strengthen the positive usage of stablecoin technology and create a safer ecosystem by freezing addresses associated with sanctioned individuals or illicit activities.