According to The Block, Conduit has filed a lawsuit in the United States District Court for the Southern District of New York alleging that Tether froze approximately $2.76 million of Conduit’s funds for more than twelve months without providing an explanation.
The complaint states that the freeze began at an unspecified date and continued for over a year, during which Conduit was unable to access the amount in question. No further details about the timing of the freeze beyond “over a year” are provided in the source material.
Conduit asserts in the filing that it has no legal entitlement to the frozen funds and seeks relief to lift the restriction and recover the amount.
