Conduit Sues Tether Over $2.76 Million Freeze
Conduit has filed a lawsuit against Tether in a New York federal court, alleging the stablecoin issuer froze $2.76 million of its funds without explanation.
Conduit is suing stablecoin issuer Tether in a New York federal court, alleging that the company froze $2.76 million of its funds for over a year without providing an explanation, according to TheBlock.
Lawsuit Filed in New York
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The legal action claims that Tether has "no legal entitlement" to the frozen funds. The dispute centers around the prolonged freezing of the $2.76 million in USDT, which Conduit states has been inaccessible for more than twelve months.
Key facts
- Conduit filed the lawsuit against Tether in a New York federal court.
- The disputed amount totals $2.76 million in USDT.
- The funds were allegedly frozen for over a year without explanation.
Source: theblock.co
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