Stablecoin issuer Tether has frozen funds in 32 cryptocurrency addresses linked to terrorism and warfare in Israel and Ukraine, according to a Monday press release.
Tether said that it has been working with Israel's National Bureau for Counter Terror Financing (NBCTF) to counter cryptocurrency-funded terrorism and warfare. By freezing a wallet, Tether restricts the "send USDT" function of that wallet, meaning that the owner cannot transfer funds until the freeze is lifted.
The combined value frozen across the 32 addresses equates to $873,118.
Tether's announcement follows reports from last week that crypto exchange Binance helped Israeli police seize Hamas-linked crypto wallets after a surprise attack by the terrorist organization quickly spiraled into war, with Palestinian enclave Gaza still under siege.
"Tether remains committed to promoting responsible blockchain technology use and standing as a robust defense against cybercrime,” said newly-appointed Tether CEO Paolo Ardoino. “We eagerly anticipate continued collaboration with global law enforcement agencies as part of our commitment to global security and financial integrity.”
Tether froze $46 million worth of its USDT stablecoin last November following a law enforcement request in relation to an FTX wallet during the exchange’s collapse.
UPDATE (Oct. 16, 13:06 UTC): Adds report of Binance working with Israel to freeze Hamas-linked accounts from last week.
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