Tether Faces Lawsuit Alleging Premature Freeze Of 42.4M USDT In Thailand
TL;DR
- Freeze Dispute: Plaintiffs say Tether froze 42.4M USDT months before a warrant and acted on an informal request.
- Legal Demands: Lawsuit seeks removal of blacklisted addresses, prevention of token destruction, and damages tied to Tether’s reserve income.
- Federal Probe Link: Funds are connected to a Justice Department investigation into $61M in USDT tied to pig‑butchering scams, with the Issuer assisting authorities in asset recovery.
Two Thai businessmen have taken legal action against Tether, claiming the stablecoin issuer froze 42.4 million USDT months before U.S. authorities secured a seizure warrant. Their lawsuit, filed Aug. 31 in the U.S. District Court for the Southern District of New York, argues that Tether acted without proper legal authority and deprived them of access to assets they say were obtained through routine business dealings.
Dispute Over Timing And Authority
According to the complaint, Nutthawat Rukthammachalern and Natthawat Kasamvilas allege Tether froze the tokens across 10 Ethereum addresses on Oct. 30, 2025. They say the action stemmed from an informal request by a U.S. law enforcement agent, months before a warrant was issued on Feb. 19. The plaintiffs emphasize they had no direct relationship with Tether and acquired the USDT through secondary‑market transactions, arguing the freeze amounted to an improper intervention into privately held digital assets.
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