Tether Faces $344M Stablecoin Seizure Bid as Myanmar Eyes Death Penalty and CLARITY Act Advances
Tech Tether Faces $344M Stablecoin Seizure Bid as Myanmar Eyes Death Penalty and CLARITY Act Advances A US law firm has escalated its campaign to redirect frozen blockchain-based assets toward unrelated legal judgments, filing a new motion Thursday demanding Tether hand over more than $344 million in USDt linked to Iranian entities. Gerstein Harrow LLP claims its clients are owed over $532 million in compensatory damages and $1.8 billion in punitive damages tied to acts attributed to Iran stretching back 25 years. The filing extends a broader strategy targeting digital assets frozen following sanctions enforcement or exchange exploits. Onchain investigator ZachXBT publicly criticized the firms tactics, arguing such filings displace rightful claims of hack victims and delay legitimate restitution efforts already underway in the industry. Myanmar‘s military government has unveiled one of the harshest anti-fraud frameworks in the world, releasing the text of an Anti-Online Fraud Bill that proposes life imprisonment and, in certain cases, the death penalty for digital currency fraud. The legislation, published Thursday, directly targets scam centers operating along the country’s borders, where trafficked workers are coerced into running pig-butchering schemes and fake investment platforms. Penalties escalate to capital punishment when victims die as a result of forced labor in