Gurhan Kiziloz Locked Out of $213M as Tether Freezes Funds in Alleged Gambling Tax & ICO Crackdown

Gurhan Kiziloz Faces $213M Tether Freeze Over Alleged Gambling Tax Issue & ICO Token Sales

Brazilian authorities have moved aggressively against Gurhan Kiziloz, securing one of the largest single-target stablecoin freezes on record after Tether locked $213 million across 48 USDT accounts tied to the iGaming founder. The freeze, executed in coordination between Tether Operations Ltd. and Brazilian regulators, stems from allegations that Kiziloz ran unlicensed gambling operations and conducted cryptocurrency token sales between 2021 and…

Gurhan Kiziloz Locked Out of $213M as Tether Freezes Funds in Alleged Gambling Tax & ICO Crackdown

A single coordinated action has put $213 million of Gurhan Kiziloz’s USDT holdings beyond his reach. Tether Operations Ltd. has frozen the funds across 48 digital wallets tied to the iGaming founder, executing the freeze in support of Brazilian authorities pursuing an alleged gambling tax dispute and a parallel line of inquiry into initial coin offerings. The freeze is one of the larger single-target enforcement actions in the stablecoin’s histo…