Tether freezes approximately $39.3 million worth of USDT, involving addresses linked to Xinbi Guarantee.
55 minutes ago
Tether froze approximately $39.3 million in USDT across 10 addresses on the Tron network earlier today, with the addresses linked to Xinbi Guarantee. Sources reveal that Xinbi Guarantee is an escrow trading market that emerged on Telegram around 2022. Blockchain analytics firm TRM Labs has previously identified it as one of the largest illegal cryptocurrency markets in Southeast Asia, stating the platform has handled roughly $24.2 billion in total transactions. On-chain tracking platform MistTrack was the first to break the news of the related USDT freeze. This move marks Tether’s further step in on-chain asset freezing measures, targeting addresses deemed connected to high-risk or suspected illegal activities.
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