Thai Businessmen Sue Tether for Freezing $42,417,785 in USDT on Informal Government Request
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4 Articles
The Daily Hodl
Cryptocurrency News | Cryptocurrency Prices | Market CapThai Businessmen Sue Tether for Freezing $42,417,785 in USDT on Informal Government Request
Two Thai businessmen are suing Tether for freezing their USDT holdings worth tens of millions of dollars at the informal request of a U.S. government agent without any warrant or legal process. The complaint highlights Tether's use of its on-chain blacklist mechanism and ongoing freeze despite a later seizure warrant.
According to ChainCatcher, two Thai businessmen, Nutthawat Rukthammachalern and Natthawat Kasamvilas, have filed a lawsuit against stablecoin issuer Tether in the Southern District of New York, accusing it of blacklisting 42,417,785.62 USDT. The lawsuit was filed on August 31 and refiled the following day. On-chain records show that these 10 Ethereum addresses were frozen in bulk within two and a half minutes on October 30, 2025, while the seizu…
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