Payments firm Conduit has sued Tether, seeking a court order that would restore access to its treasury wallet after $2.76 million in USDT was frozen. According to TheDefiant, Conduit says the loss of that working capital has slowed client settlements, turning the wallet freeze into an operational issue rather than a simple custody dispute. The case centers on access to the company’s treasury funds and the effect that restricted liquidity has had on day-to-day payment flows. The report did not provide additional details on the legal filing, the reason for the freeze, or any response from Tether. The article was published by TheDefiant on Oct. 6, 2026.
Payments firm Conduit has sued Tether, asking a court to restore access to its treasury wallet after $2.76 million in USDT was frozen. Conduit says the loss of working capital has slowed client settlements.
What the lawsuit seeks
According to TheDefiant, Conduit is seeking a court order to regain access to the treasury wallet. The company says the frozen funds have reduced available working capital and disrupted the pace of customer settlements.
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