WORLDTECHBinance co-founder Yi He warns of freezes on suspicious USDT transfers
Binance co-founder Yi He has urged caution over suspicious transfers of USDT, the dollar-pegged token issued by Tether, that involve Myanmar, Cambodia and other third parties. He pointed to the risk that such funds could be frozen by law enforcement authorities.
Concerns raised by Yi He
Yi He, a co-founder of the cryptocurrency exchange Binance, has warned against suspicious movements of USDT, a stablecoin pegged to the US dollar and issued by Tether. According to the report, the transfers in question are linked to Myanmar, Cambodia and third parties.
In his warning, Yi He said that funds connected to such transfers could be subject to freezes by law enforcement. The report attributes this caution to him and does not describe any specific freeze or enforcement action.
Background on Binance
Binance is a cryptocurrency exchange and finance company based in the United Arab Emirates. It was founded in 2017.
Open questions
- Which specific transfers or parties does Yi He's warning refer to?
- Has any law enforcement agency actually frozen funds in connection with these transfers?