Tether freezes $27M USDT on sanctioned Russian exchange Garantex

Crypto exchange Garantex halted trading and withdrawals after Tether froze about $27 million of its stablecoin USDT tied to the platform.

Stablecoin operator Tether has frozen $27 million in USDt on the sanctioned Russian Garantex crypto exchange, forcing the platform to halt operations.

“Tether has entered the war against the Russian crypto market and blocked our wallets worth more than 2.5 billion rubles [$27 million],” Garantex wrote on its official announcement channel on Telegram on March 6.

The exchange said it has temporarily suspended all services, including withdrawals, with its website currently under maintenance.

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