【速報】Tether eliminates $873,118.34 worth of assets linked to terrorist groups
Tether freezes addresses connected to terrorist activity
Tether, the largest stablecoin issuer, has frozen 32 blockchain addresses associated with terrorist groups in Israel and Ukraine. The freeze was carried out in collaboration with Israel's National Bureau for Counter Terror Financing. The frozen addresses hold assets worth $873,118.34.
Stablecoins and their centralized control
Stablecoins, such as Tether's USDT, are unlike traditional cryptocurrencies like Bitcoin and Ethereum in that they are issued and backed by centralized entities. This allows for programmatically freezing users' funds at the request of governments, similar to traditional bank deposits. Tether has demonstrated its ability to freeze funds lost to criminal activities in the past.
Compliance and tracing capabilities
Tether has cooperated with 31 different agencies from various countries, freezing over $835 million in criminal-connected crypto. Tether's CEO, Paolo Ardoino, emphasized that cryptocurrency transactions are not anonymous and are highly traceable. Criminals using cryptocurrencies for illegal activities will eventually be identified.
Hamas and pro-Russian groups involved in crypto funding
Following recent attacks by Hamas against Israel, Israeli authorities froze crypto accounts suspected of being linked to the terrorist group. According to Chainalysis data, Hamas has secured tens of thousands of dollars in Bitcoin donations since 2019. Similarly, pro-Russian groups involved in the Russia-Ukraine conflict have raised over $2 million in Bitcoin and Ethereum to support their war efforts.