Tether freezes $28 million USDT from Russian sanctioned exchange Garantex

PANews March 6 news, according to Cointelegraph, Tether has frozen about US$28 million in USDT, involving the Russian crypto exchange Garantex, which has been sanctioned by the EU and the United States. Affected by this, Garantex has suspended all transactions and withdrawals, and announced on its official website that all USDT assets in Russian wallets are at risk.

The action follows the 16th round of sanctions against Russia issued by the EU on February 26, and Garantex is listed on the list for its close ties with sanctioned Russian banks. The US Treasury Department imposed sanctions on it as early as April 2022. Garantex responded that he would continue to fight, but did not disclose subsequent response measures.