Odaily Planet Daily reports that, according to official tracking by security firm Bitrace, Tether, the issuer of USDT, has frozen 50 blockchain addresses in a single action, including 22 business addresses linked to Sinbi Guarantee, a leading illegal crypto trading escrow platform in Southeast Asia, with a total value of $45 million.
According to Bitrace’s investigation, the main targets of this freeze operation were recent business addresses associated with NewCoin collateral (deposit addresses, intermediary addresses, withdrawal addresses), the hot wallet addresses used to transfer funds from Xpay, NewCoin’s illegal payment tool, and certain third-party illegal entities with close financial ties to NewCoin. At least 22 NewCoin group business addresses, totaling over $45 million, were impacted on-chain.
It is understood that the on-chain enforcement in this case fundamentally differs from the previous freezing of funds related to North Korean hackers and Huwang Pay’s single address, as it also encompasses other associated business addresses. Targeting the new coin collateral itself, the enforcement first froze business addresses that recently held operational funds, followed by the withdrawal hot wallets of its payment tools, and finally, some partner merchant addresses.
Bitrace also stated that on-chain enforcement activities by unknown law enforcement agencies continued as of September 9, 2026. The temporary business address, activated after the address associated with the new coin was frozen on the 8th, was also frozen that same evening, with less than 12 hours between the two events—demonstrating ongoing on-chain enforcement.