Tether Freezes $500 Million in Assets Linked to Turkish Gambling Ring

Tether has frozen more than $500 million in digital assets tied to an alleged illegal gambling and money‑laundering network in Turkey. The freeze targets assets reportedly owned by Veysel Sahin, whom Turkish prosecutors accuse of running a sprawling illegal betting network, and stands as one of the largest single‑asset seizures in the cryptocurrency sector to date.

CEO Paolo Ardoino said law enforcement provided information that prompted Tether to act, and he highlighted the company’s increasing cooperation with international agencies. The British Virgin Islands‑incorporated firm has repositioned itself as a proactive partner to global police, after earlier criticism over a perceived lack of transparency.

Earlier this year the company froze more than $180 million in USDT, and Tether has now frozen over $3 billion in assets since its inception.

Turkey