A major issuer of Stablecoin Tether has frozen another batch


On the Ethereum blockchain, $8 million worth of cryptocurrency has been frozen.

Crypto-monitoring resource Whale Alert identified several transactions indicating that Tether froze three USDT addresses on October 10.

According to transaction records on Etherscan, the frozen addresses contain $3.4 million, $1.95 million, and $2.9 million. The addresses can no longer transfer funds and have raised $8.2 million in USDT stablecoins.

Source: Twitter
“Tether works closely with law enforcement around the world to assist with investigations, including on freeze,” a Tether spokesperson told Cointelegraph. The company declined to comment on the nature of the new freeze, saying: “Tether is unable to comment on any cooperation with law enforcement as part of the Class A compliance program.”

The latest freeze is far from the first time Tether has blacklisted Ethereum-based USDT addresses. As previously reported, in January 2022, Tether froze three Ethereum addresses containing more than $150 million in USDT.

Tether has actively cooperated with regulators and has blacklisted a total of 795 USDT addresses on Ethereum since the first USDT address was blacklisted in November 2017.

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Tether added 215 Ethereum-based USDT addresses to its blacklist in 2022, according to Dune Analytics dashboard data compiled by Ethereum researcher Philip Castonguet. In contrast, Tether blacklisted 357 Ethereum-based USDT addresses in 2021.

Source: Dune Analytics.
According to CoinGecko, the total amount of USDT based on Ethereum across all closed wallets is over 443 million, or 0.64% of the $65 billion in circulation at the time of writing.

Source: CoinTelegraph