Tether sued over $42M in frozen coins, 6,600 students get crypto loans: Asia Express

Thai businessmen sue Tether over $42M frozen USDT tied to pig butchering scam, Aussie crypto firms face big fines unless they meet licensing deadline.

THAILAND

Two Thai businessmen have sued stablecoin issuer Tether in a New York district court, claiming it illegally froze $42.4 million in Tether USDt (USDT) in October, as part of a broader case tied to a pig butchering scheme.

The plaintiffs claimed that Tether illegally froze the $42 million without a warrant in October 2025, following an informal request from US Homeland Security Investigations.

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