Conduit Sues Tether Over Alleged Freeze of About $2.8M in USDt
Payments firm Conduit says Tether locked millions in USDt tied to a Brazilian investigation it claims no connection to, and has not released the funds for over a year.
AfroEuropa Newsroom
AfroEuropa desk
Payments company Conduit has filed a lawsuit against stablecoin issuer Tether, alleging that the company froze millions of dollars in USDt held in one of its wallets.
According to Cointelegraph, the complaint states that Tether froze USDt funds in a Conduit wallet connected to an investigation that Brazilian authorities opened in 2024.
Decrypt reported that the payments firm places the frozen amount at roughly $2.76 million and alleges Tether acted on its own initiative. Conduit says it has no connection to the Brazilian investigation. The firm further alleges that Tether has profited from the reserves while declining to release the money for more than a year.
The two outlets gave slightly different figures for the frozen total, with Cointelegraph citing about $2.8 million and Decrypt citing about $2.76 million.
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