Payments firm Conduit sues Tether over frozen $2.76M in USDT

Payments firm Conduit has sued Tether in SDNY, alleging the stablecoin issuer's T3 Financial Crime Unit froze $2.76 million in USDT from its treasury wallet on its own initiative in connection with a Brazilian Federal Police investigation into unrelated crime. Conduit says police confirmed the wallet was never flagged for freezing, yet the funds remain locked more than a year later.

Detected & updated continuously · Source: Nebula