Conduit sues Tether over $2.76 million USDT freeze
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- Conduit Technology has sued Tether over an alleged $2.76 million USDT freeze.
- The company says the wallet held working capital and was frozen on 24 September 2025.
- Conduit is seeking the return of the funds and additional damages.
Conduit Technology Inc. has sued Tether over an alleged $2.76 million USDT freeze.
The complaint was filed on 5 October 2026 in the Southern District of New York.
Conduit alleges Tether froze its wallet without legal entitlement or justification.
Conduit said the wallet processed 4,427 transactions involving 78 counterparties and more than $1.1 billion in volume.
The company created the wallet in May 2025 to hold working capital in USDT.
Conduit alleges Brazilian authorities never identified the wallet for freezing.
The company is seeking $2.76 million, damages and interest on the frozen funds.
The lawsuit could test the limits of Tether’s authority to freeze USDT held in customer wallets.
