Proactive Measures Unveiled: Tether Safeguards Against Token Misuse

10 December 2023

In a strategic move, Tether freezes wallets associated with U.S. OFAC sanctions, signaling a proactive stance against potential misuse.

Tether, the entity responsible for the world's largest stablecoin, has taken a proactive measure by freezing the wallets of individuals sanctioned by the U.S. Office of Foreign Asset Controls (OFAC). The move, according to Tether, aims to prevent potential token misuse and bolster security measures.

Paolo Ardoino, the new CEO, sees this as an expansion of the company's collaboration with global law enforcement. Despite previous hesitancy, Tether has now included wallets associated with the sanctioned Tornado Cash protocol in its freeze.

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Isabella Morales
News analyst
Buenos Aires native Isabella Maria Morales is an accomplished financial reporter with a Bachelor's in Economics from the University of Buenos Aires. Isabella has contributed significantly to the field, with roles as a Financial Reporter at the Buenos Aires Herald and a Senior Analyst at the Latin American Finance Review. Her interests span Latin American economic development, tango dancing, gastronomy, and travel.