Crypto
Home›Crypto›Regulation›Lawsuit alleges Tether froze $42.4M USDT before cited…
Lawsuit alleges Tether froze $42.4M USDT before cited seizure warrant
The complaint says 10 Ethereum addresses were frozen in one batch on Oct. 30, 2025, with a cited seizure warrant dated Feb. 19, 2026.
Two Thai businessmen have sued Tether in Manhattan federal court, alleging the stablecoin issuer blacklisted 42,417,785.62 USDT across 10 Ethereum addresses.
According to onchain records cited in the complaint, the addresses were frozen on Oct. 30, 2025, in a single batch that took place within about two and a half minutes. The plaintiffs, Nutthawat Rukthammachalern and Natthawat Kasamvilas, claim they bought USDT on the secondary market and have no contract with Tether.
The complaint references a seizure warrant dated Feb. 19, 2026, and argues the freeze occurred more than three months earlier. It also says Tether’s terms of service reserve the company’s discretion to freeze tokens as required by law or if Tether deems it prudent.
The plaintiffs allege Tether acted on an informal request involving a Homeland Security Investigations agent before any warrant existed, and that the company emailed one plaintiff on Nov. 2, 2025 without providing further information. The case was filed in the Southern District of New York on Aug. 31, re-filed the next day, and is assigned to Judge Lewis J. Liman, with summonses issued to four Tether entities on Sept. 1.
Latest closeEthereum $2,500.36 ▲4.5%