Brazilian authorities have moved aggressively against Gurhan Kiziloz, securing one of the largest single-target stablecoin freezes on record after Tether locked $213 million across 48 USDT accounts tied to the iGaming founder.
The freeze, executed in coordination between Tether Operations Ltd. and Brazilian regulators, stems from allegations that Kiziloz ran unlicensed gambling operations and conducted cryptocurrency token sales between 2021 and 2024, years before Brazil enacted binding rules for either activity. Authorities are now applying both regimes retrospectively, a move legal observers expect Kiziloz’s team to contest forcefully.
No criminal charges have been filed. The dispute is proceeding through Brazil’s civil courts.
Kiziloz did not respond to requests for comment
Tether Freezes $213M in USDT Linked to Gurhan Kiziloz Amid Brazil Gambling Probe
The execution of a 48-wallet freez...
English (US)