The Philippine National Police (PNP), together with the Anti-Money Laundering Council (AMLC), confirmed that out of the ₱200 million ransom money related to the Anson Que case, they have successfully requested to freeze $79,800 in $USDT.
Now, questions emerged: Can the PNP enlist Tether’s help to trace and recover more of the ransom tied to the killing of Que?
Quick Background: How Crypto Used in Anson Que Case
During a press briefing on the high-profile Anson Que ransom-kidnap-murder case, Philippine authorities uncovered the use of cryptocurrency as a means to launder ransom payments.
The PNP revealed that the ransom money, amounting to ₱200 million, was funneled through unregistered e-wallets connected to casino junket operators—9 Dynasty and White Horse—which were not licensed with the Bangko Sentral ng Pilipinas (BSP) or the AMLC. These funds were then converted into cryptocurrency and routed through several digital platforms, complicating efforts to trace the money trail.
Two locally licensed virtual asset service providers (VASPs) were then subpoenaed in connection with the case. Authorities confirmed that these VASPs cooperated and provided know-your-customer (KYC) information on the involved accounts.
In contrast, foreign exchanges and unregistered crypto platforms posed challenges due to their lack of regulatory oversight and transparency. Despite this, with assistance from an international VASP, around ₱4.5 million ($79,800) worth of USDT was successfully frozen.
However, PNP did not disclose which international VASP assisted them, nor have they revealed the method used to freeze the cryptocurrency.
The Big Question: Can Tether Freeze Other USDT Involved?
If $USDT is connected to illicit activities, Tether has the technical means to freeze tokens directly on the blockchain. This measure is usually implemented in compliance with legal or regulatory directives.
It should be noted that while $USDT tokens are minted on a decentralized blockchain, the token itself is issued and controlled by Tether. Thus, it has the authority to freeze funds.
In fact, Tether has been working with authorities in multiple countries to freeze $USDT associated with illegal activities. According to the firm, it has collaborated with more than 235 law enforcement agencies worldwide to freeze over $2.5 billion in $USDT linked to terrorism, human trafficking, money laundering, and cybercrime.
The History: Frozen Wallets and $USDT
Linked to Terrorism and Warfare
In October 2023, Tether froze 32 wallet addresses linked to terrorism and warfare in Israel and Ukraine as part of its broader efforts to combat crypto-funded crime, working with 31 law enforcement agencies across 19 jurisdictions and freezing more than $835 million in assets.
SEA-Based Human Trafficking and Romance Scam Syndicate
In November 2023, Tether, in collaboration with OKX and the U.S. Department of Justice, froze $225 million in $USDT linked to a Southeast Asia–based human trafficking and romance scam syndicate.
Cross-Border Crypto Laundering Ring
In January 2025, the T3 Financial Crime Unit, a collaboration between TRON, Tether, and TRM Labs, partnered with Spain’s Guardia Civil to freeze $26.4 million linked to a cross-border crypto money laundering network.
Linked to Sanctioned Garantex
In March 2025, Tether assisted the U.S. Secret Service in freezing $23 million linked to sanctioned Russian exchange Garantex.
Bybit Hack
Recently, Tether, through the T3 Financial Crime Unit, helped freeze nearly $9 million linked to the record-breaking Bybit hack.
The Bottom Line
Tether has the ability to freeze $USDT and help recover illicit funds in the PNP’s investigation into crimes involving cryptocurrencies, including the ongoing Que case.
What is $USDT and Tether?
$USDT (Tether USD) is a stablecoin, a form of cryptocurrency designed to maintain a stable value by being pegged to a traditional currency. Each unit of $USDT is intended to consistently mirror the value of one U.S. dollar.
It is widely used in the digital asset ecosystem for facilitating trading, cross-border transactions, and providing a dependable store of value amidst the volatility of other cryptocurrencies like $BTC and $ETH.
$USDT is issued by Tether, a centralized entity that oversees the token’s supply and distribution. The company claims that each $USDT is backed by reserves composed of fiat currency and other liquid assets to ensure its 1:1 parity with the U.S. dollar.
In 2024, Tether reported its net profit exceeded $13 billion, driven by returns from U.S. Treasuries, $BTC, gold, and other investments, bringing its total group equity to over $20 billion. An audit conducted by BDO confirmed Tether’s Q4 performance, including a $7 billion reserve buffer and $113 billion in U.S. Treasury holdings.
This article is published on BitPinas: Can Tether Freeze USDT on the Blockchain? Stablecoin at Center of PNP Crypto Chase in Anson Que Ransom Probe
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