Three Ethereum addresses held with $150 million worth of USDT

Three more Ethereum addresses have been added to its blacklist that holds nearly $150 million worth ofUSDT, according to World s largest stable coin issuer Tether.

Tether has the power to freeze accounts with dubious funds that are related to crime and money laundering, because they are a centralized company.

The three accounts frozen by Tether won't be able to move funds or make any transfers. The company is always vigilant and regulated funds that might be associated with crime and money laundering, because of the increase in criptocurrency crime.

Tether helps international law enforcement to track questionable funds and help them freeze suspicious accounts, according to sources.

According to the data from Bloxy Block Explorer, Tether had earlier frozen 563 addresses containing dubious funds in November, followed by freezing additional 312 addresses in December 2021.

A firm reported $30 million USDT in 2017 when a firm blocked blockade of address, and Tether began blocking it. As per sources, Tether's unique recovery mechanism allows it to freeze USDT and later reissue them in certain cases.

Since 2020, crime in the sector of criptocurrencies has increased, according to a recent Chainanalysis report. Nearly $14 billion of funds were held by illegal addresses in 2021, showing a rise in malicious activities carried through criptocurrencies.

Tether hasn't revealed why the three addresses were blacklisted. There is growing speculation that the move may be a precautionary measure to prevent rising scams and fraudulent activities concerning USDT. A $1 million worth ofUSDT was blocked by Tether earlier in the day. The move was later referred to as a way to help recover funds stolen by hackers or are compromised. The use of the Omni platform is used to create a second layer of criptocurrency token, built on top of the Bitcoins, which was previously known as the RealCoin. The USDT issued by Hong Kong-based company Tether is the world's largest stable coin issuer with a market cap of nearly $78.3 billion.