According to ME News, on September 2 (UTC+8), Tether is facing a lawsuit after freezing $42.4 million in USDT. Two Thai businessmen claim their wallets were blacklisted following an informal request from a U.S. government official, without a warrant or court order. They now demand the unfreezing of their funds and compensation for the profits Tether earned from the underlying reserve assets during the period their USDT was frozen. (Source: BlockBeats)
Two Thai merchants sue Tether over $42.4 million USDT freeze
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Summary
Two Thai merchants have filed a lawsuit against Tether over a $42.4 million USDT freeze, citing government cryptocurrency regulations as a possible factor. They claim their wallets were blacklisted following an informal request from a U.S. official, without a warrant or court order. The case has ignited discussions in on-chain news circles, as the plaintiffs seek recovery of their funds and compensation for lost earnings. The action underscores tensions between private cryptocurrency firms and regulatory interventions.
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