Attorney Highlights Tether Case as a Clear Instance of Unjust Enrichment
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Legal Dispute Overview: Riverstone Consultancy has filed a lawsuit against Tether in New York, claiming the company unjustly froze $44.72 million in USDT based on an informal request from Bulgarian police, raising concerns about the management of frozen funds by stablecoin companies.
Accusations and Industry Implications: The lawsuit alleges Tether violated legal protocols and falsely marketed USDT as a reliable stablecoin while exercising centralized control, highlighting the need for clearer regulations in the crypto industry to protect users' rights against arbitrary fund freezes.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
