Two Thai businessmen sued Tether in a New York federal court, claiming the stablecoin issuer illegally froze $42.4 million in USDT in October 2025. They argue Tether acted without a warrant following an informal request from US Homeland Security Investigations, while the official seizure warrant was only issued in February 2026. The plaintiffs do not dispute their involvement in the pig butchering scam, tied to a $61 million case. The lawsuit challenges Tether’s authority to freeze tokens and requests the funds be unfrozen along with potential punitive damages.
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