Tether Freezes 41 Wallets Controlled by People on SDN List

Stablecoin issuer Tether froze 41 wallets controlled by people on the Office of Foreign Assets Control's (OFAC) Specially Designated Nationals (SDN) List on Saturday.

Tether described the actions as "precautionary measures" in a blog post.

On-chain data shows that several wallets had been using the coin-mixing service Tornado Cash in the past six months. One of the frozen wallets is also associated with the $625 million Ronin Bridge attack, which, according to the U.S. Treasury Department, was executed by North Korean hacking group Lazarus Group.

"By executing voluntary wallet address freezing of new additions to the SDN List and freezing previously added addresses, we will be able to further strengthen the positive usage of stablecoin technology and promote a safer stablecoin ecosystem for all users," said Tether CEO Paolo Ardoino.