AMLBot’s “USDT vs USDC” data covering the period 2023–2025 to the analysis Accordingly, there was a sharp divergence in terms of scale and method in stablecoin freezing activities. Tether (USDT) blacklisted a total of 7,268 addresses during this period, freezing approximately $3.29 billion in assets. circle (USDC) has implemented $109 million in freezes on 372 addresses through court or regulatory orders alone. While the report points out an approximately 30-fold value and address difference on the USDT side, it also demonstrates with examples how address freezing processes are integrated into real investigation workflows in the Ethereum and especially the Tron network.
30X Scale on USDT
According to the analysis, Tether ERC-20 And TRC-20 It froze a total of 3.29 billion dollars in its lines. Tron alone took the largest share with $1.75 billion and more than 53 percent of the frozen USDT tron It is located on. The report shows that Tether has reached a blacklist curve that accelerates from the end of 2023, becoming almost steep in 2024–2025. In other words, sanctions in Tether are not infrequent and mass, but continuous and gradual. Only Ethereum In the snapshot on the side, the frozen USDT size is approximately $1.54 billion, and $109 million worth of assets for USDC are frozen on the same network.
What makes Tether different is that it turns the “freeze + burn + re-export” line into a refund and compensation mechanism. The report will be published in July 2024 USDT It reveals that its ice creams exceeded $130 million, and the $29.6 million ice cream associated with the Cambodia-based Huione Group in the Tron network stood out in the same period. The fact that there are peaks of “burned” coins exceeding 25-30 million dollars in some months towards the end of 2025 makes visible Tether’s operational cycle that connects freezing to permanent liquidation and return steps after the investigation.
USDC’s Court Triggered Model
The Circle façade was included in the report with a narrower frame. USDCIn , freezing operations work with the logic of “access blocking” and are triggered only by applicable law, regulation or court decisions. In the 2023–2025 data, 372 addresses and a total of $109 million appeared as “high but rare” jumps on the chart, while it was noted that the daily flow did not show continuity. It was specifically stated that Circle did not use the coin burning and re-issuance mechanism, and in the default scenario, the assets remained dormant at the address until legal approval.
While the report says Tether works with more than 275 law enforcement agencies in 59 jurisdictions and handled more than 2,800 addresses in coordination with U.S. law enforcement, it also clearly notes that its wide discretion raises privacy and censorship concerns. Following the freezing of approximately 44.7 million USDT at the request of the Bulgarian police in April 2025 Riverstone Consultancy The case filed by stands out as a concrete example of how rapid response capacity can create legal risks. In addition, the fact that the delay window created by the multi-signature approval process has been associated with a loss of approximately 78 million dollars since 2017 brings the balance between “rapid intervention” and “governance security” to the center of the debate.
