Tether freezes $150 million in USDT

Tether freezes $150 million in USDT


Tether has added three more Ethereum addresses, holding more $150 million worth of the USDT stablecoin between them, to its blacklist.

As a centralized company, Tether is able to blacklist addresses it believes are involved in crime, money laundering — or for any other reason it chooses.

This is the first time Tether has blacklisted an address in 2022 but it added 312 addresses to the blacklist last year and has added 563 all up since it first did so on Nov. 28, 2017.

Trending: Over 270 Fully Vaccinated Indiana Residents Passed Away of COVID-19 Complications in 3 Weeks

Tether has not revealed why the three new addresses were blacklisted, however it has used its power to blacklist addresses involved in cyber attacks and law enforcement investigations. Following the Kucoin hack in Sep. 2020, Tether froze about $35 million USDT to prevent hackers

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend