Cross-border payments company Conduit Technology has filed a lawsuit against Tether in the U.S. District Court for the Southern District of New York. The company alleges that the stablecoin issuer froze approximately $2.76 million in USDT on September 24, 2025, without notice or explanation. This action was reportedly carried out by Tether’s T3 Financial Crime Unit in connection with a Brazilian Federal Police investigation, which Conduit claims it had no involvement in. Conduit is seeking a declaratory judgment that Tether lacks legal authority to freeze its assets, an immediate court order to unfreeze its wallet, and compensatory damages of at least $2.76 million.
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