{"id":14496,"date":"2022-11-15T02:57:26","date_gmt":"2022-11-15T02:57:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/us-law-enforcement-directs-paxos-to-freeze-more-than-11000-paxg-tokenized-gold-coins-bitcoin-news\/"},"modified":"2022-11-15T02:57:26","modified_gmt":"2022-11-15T02:57:26","slug":"us-law-enforcement-directs-paxos-to-freeze-more-than-11000-paxg-tokenized-gold-coins-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/us-law-enforcement-directs-paxos-to-freeze-more-than-11000-paxg-tokenized-gold-coins-bitcoin-news\/","title":{"rendered":"US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Gold Coins \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax gold (PAXG) tokens held on the platform FTX.com. The regulated token issuer noted that it was directed to freeze the PAXG tokens after \u201cdirection from U.S. federal law enforcement.\u201d<\/strong><\/p>\n

Paxos Complies With U.S. Law Enforcement Request to Freeze 11,184 PAXG<\/h2>\n

Paxos updated the public on Nov. 12, 2022, and detailed that the company has frozen 11,184.38 pax gold (PAXG) tokens held on the FTX platform. The update was written by Paxos global general counsel, Ben Gray. PAXG is a crypto token backed by one ounce of .999 fine gold at a 1:1 ratio and it\u2019s the largest tokenized gold coin in terms of market cap.<\/p>\n

\u201cEarlier today, Paxos received direction from U.S. federal law enforcement to freeze Paxos-issued assets associated with four ethereum addresses,\u201d Gray\u2019s blog post<\/a> details. \u201cIn compliance with the request, Paxos froze 11,184.38 PAXG tokens valued at roughly $19 million. These tokens were previously on the FTX.com platform and had moved to unknown wallet addresses over the prior 24 hours.\u201d<\/p>\n

The PAXG tokens that were frozen by Paxos can be seen in the following four addresses:<\/p>\n

The Paxos freeze follows Tether freezing 46 million USDT<\/a> from FTX at the request of law enforcement officials as well. A Tether representative told Bitcoin.com News that the company \u201ccan confirm on the background that a freeze occurred.\u201d Following the PAXG freeze update and sharing the addresses, Gray also said the company was working with the U.S. authorities and relevant regulators.<\/p>\n

\u201cThis is a rapidly evolving matter,\u201d the Paxos executive detailed. \u201cWe intend to provide updates as appropriate as details come to light. As always, Paxos will continue to work closely with law enforcement and regulators. Thanks go to federal law enforcement for their extraordinary responsiveness to this matter.\u201d<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
Ben Gray<\/a>, Freeze tokens<\/a>, Frozen tokens<\/a>, ftx<\/a>, FTX accounts<\/a>, FTX Exchange<\/a>, Law Enforcement<\/a>, pax gold<\/a>, PAXG<\/a>, Paxos<\/a>, Paxos executive<\/a>, Paxos executives<\/a>, Paxos global general counsel<\/a>, Paxos Gold Coins<\/a>, Paxos Gold Tokens<\/a>, Tether<\/a>, USDT<\/a><\/div>\n<\/div>\n

What do you think about Paxos freezing more than 11,000 PAXG from FTX\u2019s four accounts? Let us know your thoughts about this subject in the comments section below. <\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n