Stabelcoin issuer Tether froze 41 wallets controlled by people on the Office of Foreign Assets Control's (OFAC) Specially Designated Nationals (SDN) List on Saturday.
Tether described the actions as "precautionary measures" in a blog post.
On-chain data shows that several wallets had been using coin-mixing service Tornado Cash in the past six months. One of the frozen wallets is also associated with the $625 million Ronin Bridge attack, which, according to the U.S. Treasury Department, was executed by North Korean hacking group Lazarus Group.
"By executing voluntary wallet address freezing of new additions to the SDN List and freezing previously added addresses, we will be able to further strengthen the positive usage of stablecoin technology and promote a safer stablecoin ecosystem for all users," said Tether CEO Paolo Ardoino.
In October, Tether froze 32 wallets that were linked to terrorism and warfare in Ukraine and Israel. It also froze $225 million last month in relation to a human trafficking syndicate following an investigation by the U.S. Department of Justice.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.