Conduit sues Tether over allegedly freezing $2.8M without explanation
Summary
Cross-border payments firm Conduit sued Tether in the Southern District of New York, alleging the stablecoin issuer froze $2.76 million in USDT from its treasury wallet on Sept. 24, 2025, without justification or legal entitlement. Conduit says Tether linked the wallet to companies under a Brazilian police investigation and has refused repeated requests to release the funds. Tether had not responded publicly to the lawsuit at the time of reporting. The case follows a separate suit by two Thai nationals over Tether’s freeze of $42.4 million in USDT connected to a US seizure warrant.
