Stablecoin Freezes 2023–2025: A Data-Backed Analysis of USDT vs USDC by AMLBot

Summary: 

A new data analysis of stablecoin freezing activity from 2023 to 2025 reveals major differences in scale and approach between the two leading issuers, Tether (USDT) and Circle (USDC). 

In this new report, AMLBot analyzes stablecoin freezes across Ethereum and TRON to map how USDT and USDC have been used in real investigative workflows throughout 2023–2025. The findings show not only how often freezes occur, but why they happen, what patterns they follow, and how they support victim restitution, coordinated law-enforcement actions, and major enforcement operations around the world.

The full report goes deeper into freeze mechanics, timeline patterns, cross-chain discrepancies, burn-and-reissue cycles, and what these signals reveal about illicit finance trends.

Key Data:

According to AMLBot’s updated Dune Dashboard (2023–2025), which includes data for both ERC-20 and TRC-20, Tether (USDT) has blacklisted 7,268 addresses across Ethereum and TRON, with a combined $3.29 billion frozen. Circle (USDC), by contrast, has blacklisted 372 addresses with $109 million frozen. With TRON data included, the scale difference becomes even clearer:

USDT freezes exceed USDC by more than 30× in address count and ~30× in asset value.

The difference originates from different approaches to asset freezing: Tether takes a proactive view, working with law enforcement and blockchain intelligence firms, while Circle responds only to judicial orders and regulatory sanctions. 

-AMLBot Team

Connect with AMLBot:
🔗 Website
🔗 Telegram AML Bot
🔗 AMLBot Support Team
🔗 AMLBot LinkedIn
🔗 Our Blog