Tether froze $44.7 million in USDT for Bulgarian police in April. Now, a Texas company, Riverstone Consultancy Inc., is suing to get it back, claiming Tether acted improperly. Tether’s quick response to law enforcement requests is highlighted. Tether has frozen over $3.2 billion in USDT to date, emphasizing cooperation with authorities.

Riverstone accuses Tether of improperly freezing $44.72 million USDT in crypto wallets it controls. Tether allegedly did so at the request of Bulgarian police without following proper procedures. Riverstone’s attempts to contact Tether and law enforcement were ignored. Tether did not respond to requests for comment on the situation.

The frozen USDT in question is believed to be linked to illicit activities, according to crypto forensic experts. The funds were reportedly involved in ponzi investment scams like BETL and Pegasus Ride. The investigation suggests the money moved through different blockchains, including Tron, Polygon, and Ethereum, raising concerns about its origins.

Read more at Yahoo Finance: Tether froze $44m in crypto for the Bulgarian police. A Texas firm is suing to get it back