stablecoin issuance dealer Tether froze about $5.2 million USDT, which are believed to be held in Address operated by Phishing scammers.

Blockchain analyst firm SlowMist reported that there were 12 Ethereum Address involved in the freeze, and that Tether (USDT) holdings in these Address had been disabled. Each Wallet is labeled as a "USDT Disabled Address," and a security researcher at SlowMist said the funds appear to be linked to an on-chain criminal gang.

Phishing is rampant in the Crypto Assets space, with criminals mimicking real platforms or decentralization applications (dapps) to steal private keys and breach wallet security.

Scammers continue to launch attacks, but security experts have noticed that users and platforms have developed strong defenses against these scams. According to CertiK, last month was the month with the fewest losses due to scams and Phishing Hacker attacks since 2021. According to reports, the criminals stole only $25.7 in April.

Centralization of Tether may help fight illicit wealth

Typically, freezing stolen Crypto Assets asset proofs is difficult because Decentralization entities may employ highly censorship-resistant models. In this case, Tether's centralized structure may help curb criminal activity.

This is not the first time stablecoin issuance businessmen have stepped in. In March, Tether blacklisted four Addresses holding more than $20 million in USDT as part of its efforts to counter the use of its stablecoins for criminal activities.

In the wake of UN allegations of negligence on the part of USDT's operators, the company pledged to step up its actions against illegal activities. In a letter to U.S. lawmakers, Tether also confirmed the expanded focus on illegal Crypto Assets transactions executed through the stablecoin corridor.

Conclusion

Tether's actions highlight the urgency and possibility of combating illegal financial activities in the Crypto Assets industry. By freezing the assets of suspected fraudsters, Tether demonstrates the positive role of its centralized management of stablecoins in preventing and responding to crime.

This initiative not only protects the safety of investors' assets, but also enhances the community's confidence in digital assets. At the same time, it also reflects the efforts of the industry as a whole to improve security and compliance, especially in the context of concerns raised by international organizations such as the United Nations regarding the regulation of Crypto Assets.

With the continuous strengthening of security measures and the promotion of industry best practices, the Crypto Assets field is expected to become more secure and transparent in the future, providing users with a more reliable investment environment.