Cross-border payments firm Conduit Technology has filed a lawsuit against Tether, alleging that Tether froze about $2.76 million in USDT held in a Conduit wallet. According to the reports, the funds have been frozen since at least September 2025. Conduit says it needs access to the locked assets and is seeking at least $2.76 million in damages.
Conduit’s complaint argues the wallet was not linked to the matter that led to Tether’s action, while pointing to an investigation involving Brazilian authorities that Tether reportedly referenced when freezing the funds. The outlets also describe the company alleging that the freeze occurred without adequate explanation. Tether is not described in the provided coverage as responding publicly, and one report characterizes Conduit’s position as maintaining that its own involvement does not provide a basis for Tether’s freeze.
Overall, the dispute centers on whether Tether’s freezing decision was justified and whether Conduit has the legal right to recover or access the blocked USDT.
