PANews reported on November 7 that according to Protos, former Heartland Tri-State Bank CEO Shan Hanes was sentenced to 293 months in prison for embezzling $47 million to participate in fraud. The bank's bankruptcy was originally expected to result in a complete loss of investor rights, but Tether's intervention changed the situation.
Court documents show that Hanes abandoned his request for funds from an Ethereum address (0xef2797225aCEF65d583F157bbAf023C290D0e7dB) hosted by Tether Limited. Tether implemented a blacklisting measure on the address, freezing the relevant fund flow, thereby helping the damaged investors to obtain compensation. It is reported that Tether's move is part of its cooperation with the Federal Bureau of Investigation (FBI). In addition, the Federal Deposit Insurance Corporation (FDIC) has fully protected the bank's depositors to ensure the safety of their funds.
