Tether Hit With Suit Seeking Transfer of 344,149,759 USDT Frozen on Tron

A new Manhattan federal court filing seeks to force Tether to move 344,149,759 USDT (about $344 million) that was frozen on two Tron addresses designated by OFAC as tied to Iran’s Islamic Revolutionary Guard Corps. Plaintiffs ask the Southern District of New York to order Tether to zero the blocked wallets and reissue the same USDT amount to a wallet controlled by their counsel, arguing the issuer’s freeze powers amount to effective control of the asset.