Tether, the stablecoin issuer, has taken action to freeze 32 addresses associated with terrorist activities in Ukraine and Israel, in cooperation with local law enforcement agencies. They've frozen $873,118 worth of Tether connected to illicit activities in these countries, in partnership with Israel's National Bureau for Counter Terror Financing.

Tether's CEO, Paolo Ardoino, who assumed the position in October, emphasized that cryptocurrency transactions are highly traceable on blockchain platforms, allowing Tether to block the use of USDT for terrorist funding. He also stated that Tether actively collaborates with global law enforcement agencies to track, trace, and freeze assets related to criminal and terrorist activities.

Tether reports freezing a total of $835 million in USDT, primarily associated with blockchain and cryptocurrency exchange breaches. The stablecoin issuer has worked with 32 countries worldwide to combat illicit cyber activities involving its dollar-backed stablecoin.

Meanwhile, blockchain data indicates a shift in the behavior of cybercriminals away from using Bitcoin for online value transfers. Instead, they prefer stablecoins and alternative cryptocurrencies due to their accessibility and potential for laundering through decentralized exchanges.