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Conduit Sues Tether Over a $2.76 million USDT Wallet Frozen for a Year
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Conduit Technology has sued Tether after the stablecoin issuer froze $2.76 million in the company’s USDT and allegedly kept it locked for more than a year.
Key facts
- At press time on Oct. 6, the Tron wallet that holds the stablecoin cache commands a modest $33 in TRX and $2.756 million in Tron-based USDT
- Fortitude Mining has signed a non-binding agreement for up to $100 million of Bitmain’s next-generation zcash mining hardware, securing priority…
- Conduit Technology has sued Tether after the stablecoin issuer froze $2.76 million in the company’s USDT and allegedly kept it locked for more than a year
- 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
Summary
Conduit says Tether froze $2.76M in USDT without a police request. Tether faces six claims as Conduit fights to regain its working capital. Conduit wants its $2.76M unfrozen plus profits tied to Tether’s reserves. 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.