Two Thai businessmen have sued Tether over 42,417,785.62 USDT the stablecoin issuer blacklisted across 10 Ethereum addresses, according to a complaint filed in the Southern District of New York on Aug. 31 and re-filed the following day. Onchain records show the addresses were frozen on Oct. 30, 2025. The seizure warrant the complaint cites is dated Feb. 19, 2026.
Tether's terms of service describe the right to buy and redeem tokens as "a contractual right personal to you," and reserve the right to freeze tokens "as required by applicable Law or where Tether, in its sole discretion, determines it is prudent to do so." Plaintiffs Nutthawat Rukthammachalern and Natthawat Kasamvilas say they bought their USDT on the secondary market and have no contract with Tether at all.
Queries against the USDT contract return true for all 10 addresses named in the complaint. Historical state puts the flip for every one of them on Oct. 30, 2025, between 23:00:35 and 23:03:11 UTC — a single batch inside two and a half minutes. Their combined balance at that block was 42,417,785.617689 USDT, which matches the figure in the complaint to the cent. The largest single address, attributed to Kasamvilas, holds 26.1 million USDT.
