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Blocked from Tether’s Ethereum Addresses That Hold Millions of Dollars!

Tether, which issued Stablecoin, blacklisted a total of 39 Ethereum addresses holding the USDT stablecoin.

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Blocked from Tether’s Ethereum Addresses That Hold Millions of Dollars!

Philippe Castonguay, an Ethereum researcher at Horizon Games, created a dashboard in Dune Analytics that shows that Tether is acting to ban addresses beginning in November 2017.

Addresses Blacklisted

24 of the 39 addresses identified by Castonguay were blacklisted in 2020. It is stated that these addresses kept USD 5.51 million USDT. The largest USDT-holding account has an asset of $ 4.56 million, and this address was blacklisted on April 5th.The blacklist means that these addresses cannot send, receive or use USDT . In fact, Tether tokens held at these addresses have become unusable.

Requests are Met

Stuart Hoegner, general consultant to Tether’s sister company Bitfinex, said that Tether worked with international law enforcement agencies and acted to block addresses when needed.

“Tether routinely assists law enforcement officers in their investigations … Thanks to its freezing address feature, Tether helps users and exchanges save and prevent tens of millions of dollars stolen by hackers.”The development occurred after CENTER, which released USDC stabilcoin, for the first time reported that it blacklisted an Ethereum address holding 100,000 USDC. A CENTER spokesperson said the address of the consortium led by Circle and Coinbase was “blacklisted” in response to a request from law enforcement.

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