⛔️ At Turkey’s request🇹🇷, Tether froze 554 million USDT linked to illegal gambling

⛔️ At Turkey’s request🇹🇷, Tether froze 554 million USDT linked to illegal gambling

Tether has frozen 554 million USDT at the request of Turkish authorities. The funds were tied to unauthorized Turkish bookmaker Veysel Sahin, who is accused of operating a large-scale illegal betting network.

🔻 Background: Between January 1, 2024, and October 6, 2025, law enforcement agencies in Turkey carried out 1,120 operations targeting illegal gambling and betting activities as part of a nationwide crackdown.

🔻 Update: According to the CEO of Tether, since Turkey intensified enforcement efforts, the total volume of frozen assets has surpassed 1 billion USDT. Overall, Tether and Circle have blacklisted 5,700 wallets associated with illicit activity.

🔻 Context: Tether has the technical capability to place USDT addresses on a blacklist or block them upon request from law enforcement authorities, and actively applies this measure. To date, the company has assisted in 1800 investigations across 62 countries. The total volume of frozen stablecoins linked to criminal activity amounts to 3.4 billion USDT.

The situation highlights an ongoing discussion regarding the balance between centralized control over stablecoins and the principles of decentralized self-custody.

#news #Asia #crypto #gambling

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