Tether Froze $28 Million on Russian Cryptocurrency Platform Garantex
Author: Jamie Crowley | Edited by : Parikshit Mishra Updated: 6 March 2025, 1:19 GMT Published: 6 March 2025, 12:12 GMT
Stablecoin issuer Tether has blocked USDT worth $28 million on Russian crypto exchange Garantex.
Garantex, a cryptocurrency platform sanctioned by the EU over its links to the Russian government and criminal organizations, has temporarily suspended all operations, Telegram reported on Thursday.
“Tether has started a fight with the Russian cryptocurrency market and blocked our wallets worth more than 2.5 billion rubles,” a Garantex representative said.
“Please note that all USDT stored in Russian wallets is now at risk. As always, we are the first, but not the last,” the company added.
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