In April, stablecoin issuer Tether froze $44.7 million in USDT at the request of Bulgarian police. Now, Texas-based firm Riverstone Consulting has formally filed a lawsuit accusing Tether of illegally freezing its tokens and causing it to miss a major investment opportunity.
On April 4, Tether froze the assets of eight offline wallets controlled by Riverstone, according to a complaint filed in the Southern District of New York. The company contends that Tether froze the assets only at the request of the Bulgarian District Police Department "due to procedural defects" and did not follow the formal process stipulated in the Bulgarian International Legal Assistance Treaty that "filing information must be exchanged through the central authority and foreign affairs liaison channels." When Riverstone contacted Tether, it was told to communicate directly with the Bulgarian police, but the police never responded, according to the complaint.
The current Tether stablecoin circulation exceeds $180 billion, and as of September 15, it has cooperated with global law enforcement agencies to freeze $3.2 billion in USDT.
The Texas company is suing Tether, alleging that it illegally froze $44.7 million in USDT and caused a missed major investment opportunity
2025-10-17 00:42:39
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