Tether, a cryptocurrency issuer, has taken action to freeze 32 cryptocurrency wallet addresses containing a total of $873,118. The company alleges that these funds were associated with “terrorism and warfare” activities in both Israel and Ukraine. This announcement was made on Monday.
In a related development, Israeli law enforcement had previously announced the freezing of cryptocurrency accounts used to solicit donations for Hamas through social media channels. Hamas’ attack on Israel on October 7 resulted in the loss of 1,300 lives.
Tether did not specify the exact timing of the freezing of these wallet addresses.
TRM Labs, a prominent blockchain analysis firm in the United States that collaborates with law enforcement agencies, had published a blog post in February, labeling Tether as a “currency of choice” for financing terrorism.
Tether has expressed its unwavering commitment to “close cooperation” with law enforcement agencies on a global scale in the fight against cryptocurrency-backed terrorism and warfare.
It’s worth noting that the cryptocurrency realm predominantly operates outside the boundaries of the conventional financial system, and the use of pseudonymous wallet addresses often makes it challenging to trace the individuals or entities behind these transactions.
