Conduit sues Tether over allegedly freezing $2.8M without explanation
The lawsuit alleged that Tether froze USDt funds in a Conduit wallet tied to an investigation launched by Brazilian authorities in 2024.
The lawsuit alleged that Tether froze USDt funds in a Conduit wallet tied to an investigation launched by Brazilian authorities in 2024.
The payments firm alleges Tether froze its treasury wallet on its own initiative over a Brazilian investigation it has no connection to—and has profited from the reserves while refusing to release the funds for more than a year.
Conduit is suing Tether in NY federal court, alleging the USDT issuer froze $2.76 million of its funds for over a year without explanation.