Conduit Technology has taken the stablecoin issuer Tether to federal court over a $2.76 million $USDT freeze that has lasted more than a year, arguing the stablecoin giant effectively seized working capital it had no right to touch. Conduit claims that Brazilian authorities investigating an unrelated company never identified its treasury wallet for freezing. Instead, according to the complaint, Tether’s own financial crime unit picked the address using its own undisclosed criteria.
“Tether acted on its own initiative, through its T3 Financial Crime Unit, based on its own private criteria,” the legal complaint states.
Bitcoin.com News reached out to a Tether spokesperson for comment but did not immediately receive a response.
