Stablecoins & Payments Unverified First seen 2026-10-06 17:54 UTC

Conduit sues Tether over $2.76M USDT freeze

Conduit is suing Tether in NY federal court, alleging Tether froze $2.76 million of its USDT for over a year without explanation. Conduit seeks a court order restoring access to its treasury wallet, saying the freeze is tied to a Brazilian investigation it has no connection to.

Why “Unverified”

4 independent sources (The Block, The Defiant, Decrypt, Cointelegraph), but no primary confirmation

4 independent source groups across 4 posts · evidence score 96/100. How labels work

What the sources claim

Conduit is suing Tether in NY federal court, alleging Tether froze $2.76 million of its funds for over a year without explanation. USDT

“Conduit is suing Tether in NY federal court, alleging the USDT issuer froze $2.76 million of its funds for over a year without explanation.”
The Block
Conduit alleges Tether froze its treasury wallet on its own initiative over a Brazilian investigation it has no connection to and profited from the reserves while refusing to release the funds for more than a year. USDT

“The payments firm alleges Tether froze its treasury wallet on its own initiative over a Brazilian investigation it has no connection to—and has profited from the reserves while refusing to release the funds for more than a year.”
Decrypt
Conduit seeks a court order restoring access to its treasury wallet, saying the loss of working capital has slowed client settlements. USDT

“The payments firm seeks a court order restoring access to its treasury wallet, saying the loss of working capital has slowed client settlements.”
The Defiant
The lawsuit alleged that Tether froze USDt funds in a Conduit wallet tied to an investigation launched by Brazilian authorities in 2024. USDT

“The lawsuit alleged that Tether froze USDt funds in a Conduit wallet tied to an investigation launched by Brazilian authorities in 2024.”
Cointelegraph

Sources

The Block newswire 2026-10-06 17:54 UTC
Conduit sues Tether over $2.76 million freeze, says it has ‘no legal entitlement’ to funds
The Defiant newswire 2026-10-06 19:19 UTC
Conduit Sues Tether Over $2.76 Million in Frozen USDT
Decrypt newswire 2026-10-06 19:46 UTC
Tether Hit With Lawsuit Over $2.76 Million Stablecoin Freeze
Cointelegraph newswire 2026-10-06 21:00 UTC
Conduit sues Tether over allegedly freezing $2.8M without explanation

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Summary and claims extracted by deepseek/deepseek-flash with prompt analyze-story@3 on 2026-10-06 21:20 UTC. Labels are computed from the sources, not by the model.