Tether Sued Over Frozen ‘Pig Butcher’ Coins, 6,600 Students Get Crypto Loans: Asia Express
The plaintiffs say Tether froze $42.4 million in USDT without a warrant after an informal request from U.S. Homeland Security Investigations.
- Two Thai businessmen filed a lawsuit against Tether in a New York district court, claiming the stablecoin issuer illegally froze $42.4 million in Tether USDt in October 2025.
- The freeze followed an informal request from Homeland Security Investigations, though plaintiffs admitted their involvement in a pig butchering investment scheme underlying the broader case.
- Authorities in the Eastern District of North Carolina issued a formal seizure warrant in February 2026, directing the burn and reissuance of the tokens to a government wallet.
- The ongoing litigation tests whether stablecoin issuers like Tether may act on informal requests from law enforcement agencies without formal legal process or warrants.
- This case highlights tensions between private stablecoin issuers and federal law enforcement, with the court's ruling potentially clarifying issuer obligations when handling informal asset seizure requests.
11 Articles
11 Articles
Cointelegraph
Tether Sued Over Frozen ‘Pig Butcher’ Coins, 6,600 Students Get Crypto Loans: Asia Express
Two Thai businessmen who don’t dispute involvement with a pig butchering scam sue Tether over frozen funds, thousands of Asia students access crypto loans. Asia Express.
The Daily Hodl
Cryptocurrency News | Cryptocurrency Prices | Market CapThai Businessmen Sue Tether for Freezing $42,417,785 in USDT on Informal Government Request
Two Thai businessmen are suing Tether for freezing their USDT holdings worth tens of millions of dollars at the informal request of a U.S. government agent without any warrant or legal process. The complaint highlights Tether's use of its on-chain blacklist mechanism and ongoing freeze despite a later seizure warrant.
Tether Hit With $42M USDT Freeze Lawsuit as Asia Crypto Rules Tighten
Two Thai businessmen are suing Tether in a New York district court over the freezing of $42.4 million in USDT.… Read the original on Thai Businessmen Sue Tether Over $42M USDT Freeze Amid Tightening Crypto Regulations. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
Case against Tether for freezing USDT reaches New York CourtCase against Tether contests freezing of US$ 42 mi
Tether Faces Lawsuit Over Frozen Pig-Butcher Coins in Asia Update
Two Thai businessmen have filed a lawsuit in a New York district court accusing Tether of unlawfully freezing $42.4 million in Tether USDt (USDT) during a pig butchering investment fraud case. The plaintiffs say the stablecoin issuer acted without a warrant in October 2025 after receiving an informal request from U.S. Homeland Security Investigations. The [...]
According to ChainCatcher, two Thai businessmen, Nutthawat Rukthammachalern and Natthawat Kasamvilas, have filed a lawsuit against stablecoin issuer Tether in the Southern District of New York, accusing it of blacklisting 42,417,785.62 USDT. The lawsuit was filed on August 31 and refiled the following day. On-chain records show that these 10 Ethereum addresses were frozen in bulk within two and a half minutes on October 30, 2025, while the seizu…
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