Cross-border payments platform Conduit Technology has filed a lawsuit against stablecoin issuer Tether in New York federal court, accusing the company of freezing $2.76 million in USDT in September 2025 without justification. According to the complaint, the freeze was linked to a Brazilian federal police investigation launched in 2024 into companies Bull Intermediação de Negócios and Onix. Tether allegedly identified Conduit’s wallet as tied to these entities and froze the funds on September 24, 2025. Conduit claims this action materially impacted its business and is demanding the release of its funds, with no success so far.
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