Tether has taken action by freezing funds in 32 cryptocurrency addresses connected to suspected terrorism and warfare activities in Israel and Ukraine.

This decision comes as a result of Tether's collaboration with Israel's National Bureau for Counter Terror Financing (NBCTF) to combat the potential misuse of cryptocurrencies in funding illegal activities.

This action underscores the cryptocurrency industry's increasing involvement in preventing illicit financial transactions.

It also aligns with a broader trend of major players in the industry actively engaging with law enforcement agencies to enhance security and accountability.

When Tether freezes a wallet, it restricts the ability to transfer funds ("send USDT") from that wallet until the freeze is lifted.

The total value of the funds frozen across the 32 addresses amounts to $873,118.

The NBCTF has also posted on 16 October about the "USD stablecoin flows into Tron account" that are reportedly controlled by the below-mentioned terrorists groups.

Companies Working To Freeze Associated Accounts

It is worth noting that this is not an isolated incident within the cryptocurrency space.

Binance has also been working closely with Israeli authorities.

They recently froze cryptocurrency accounts associated with the Hamas group, effectively disrupting their financial resources.

Furthermore, Binance's cooperation has led to the seizure of 190 accounts linked to Islamic terrorist activities.

These collaborative efforts highlight the potential of blockchain technology in tracking and tracing transactions, a capability often misunderstood by critics.

Newly appointed Tether CEO Paolo Ardoino emphasised that cryptocurrencies are among the most traceable assets due to the permanent recording of each transaction on the blockchain:

"Tether remains committed to promoting responsible blockchain technology use and standing as a robust defense against cybercrime. We eagerly anticipate continued collaboration with global law enforcement agencies as part of our commitment to global security and financial integrity."

This transparency leaves a digital trail that can reveal illicit activities, making it challenging for wrongdoers to conceal their actions.

Tether's recent operations demonstrate the effectiveness of partnerships between cryptocurrency firms and regulatory bodies.

In addition to the significant funds related to terrorism, Tether reports preventing the misuse of $835 million in various illicit activities.

Furthermore, Tether's collaboration with agencies across 19 jurisdictions, including major countries like the United States (US), the United Kingdom (UK), and China, reinforces its reputation as a responsible entity within the cryptocurrency sector.