Conduit Technology has filed a federal lawsuit against Tether after the stablecoin issuer froze $2.76 million in USDT in Conduit's wallet for more than a year without a police request. Conduit claims Brazilian authorities never asked for the freeze and that Tether's financial crime unit independently decided to lock the funds using undisclosed criteria. The freeze has severely impacted Conduit's working capital, leading to layoffs and office closures. Conduit seeks to unfreeze the funds, recover damages, and obtain profits Tether earned from the frozen reserves, raising legal questions about when stablecoin issuers can freeze assets.
The lawsuit involving Conduit and Tether over a frozen $2.76 million USDT wallet is presented here with Pluang's cryptocurrency market data as of Oct 07, 2026 04:41 WIB. On Pluang, out of 50 major cryptocurrencies, 9 rose and 40 fell today. Notable movers include KSM at Rp88.476 with a 4.68% decrease and a typical hold time of 80 days, CAKE at Rp42.953 down 4.23% with 88% buy activity, and EGLD at Rp79.645 down 4.07% with 57% sell activity.
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