Tether Freezes $39M in USDT, Stablecoin’s Centralized Control Exposed

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Tether has frozen roughly $39.3 million across 10 TRON addresses linked to Xinbi Guarantee.
Tether’s frozen USDT now exceeds $4.2B, reflecting expanded global law enforcement cooperation.
Two Thai businessmen sued Tether, challenging its authority to freeze $42.4M in USDT.

Tether froze approximately $39.3 million in USDT across 10 TRON addresses linked to Xinbi Guarantee, a Chinese-language escrow marketplace that emerged on Telegram around 2022. Onchain tracing platform MistTrack, developed by SlowMist, reported the freeze. One wallet alone reportedly held more than $10 million of the frozen funds.

What Is Xinbi Guarantee?

Blockchain analytics firm TRM Labs has described Xinbi Guarantee as one of Southeast Asia’s largest illicit crypto marketplaces, saying it has processed roughly $24.2 billion in cumulative transaction volume.