US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Gold Coins

According to the blockchain infrastructure institution Paxos, the steadfast has frozen 11,184.38 pax golden (PAXG) tokens held connected the level FTX.com. The regulated token issuer noted that it was directed to frost the PAXG tokens aft “direction from U.S. national instrumentality enforcement.”

Paxos Complies With U.S. Law Enforcement Request to Freeze 11,184 PAXG

Paxos updated the nationalist connected Nov. 12, 2022, and elaborate that the institution has frozen 11,184.38 pax golden (PAXG) tokens held connected the FTX platform. The update was written by Paxos planetary wide counsel, Ben Gray. PAXG is simply a crypto token backed by 1 ounce of .999 good golden astatine a 1:1 ratio and it’s the largest tokenized golden coin successful presumption of marketplace cap.

“Earlier today, Paxos received absorption from U.S. national instrumentality enforcement to frost Paxos-issued assets associated with 4 ethereum addresses,” Gray’s blog post details. “In compliance with the request, Paxos froze 11,184.38 PAXG tokens valued astatine astir $19 million. These tokens were antecedently connected the FTX.com level and had moved to chartless wallet addresses implicit the anterior 24 hours.”

The PAXG tokens that were frozen by Paxos tin beryllium seen successful the pursuing 4 addresses:

• 0x59A
• 0xc40
• 0x5Ea
• 0x9c4

The Paxos frost follows Tether freezing 46 cardinal USDT from FTX astatine the petition of instrumentality enforcement officials arsenic well. A Tether typical told Bitcoin.com News that the institution “can corroborate connected the inheritance that a frost occurred.” Following the PAXG frost update and sharing the addresses, Gray besides said the institution was moving with the U.S. authorities and applicable regulators.

“This is simply a rapidly evolving matter,” the Paxos enforcement detailed. “We mean to supply updates arsenic due arsenic details travel to light. As always, Paxos volition proceed to enactment intimately with instrumentality enforcement and regulators. Thanks spell to national instrumentality enforcement for their bonzer responsiveness to this matter.”

What bash you deliberation astir Paxos freezing much than 11,000 PAXG from FTX’s 4 accounts? Let america cognize your thoughts astir this taxable successful the comments conception below.

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