January 23, 2022

Tether blocked $ 160 million in USDT at the request of the authorities

Stablecoin issuer Tether has blacklisted three addresses on the Ethereum blockchain containing a total of $160 million in USDT. Moving stablecoins from the specified wallets is no longer possible.

“Today Tether at the request of law enforcementauthorities froze three addresses on the Ethereum blockchain containing $160 million in USDT. We are unable to disclose any other information at this time," the company said on Thursday.

Tether first blocked USDT in November 2017 when the company prevented the movement of $30 million in stolen tokens. Since then, 563 Ethereum addresses have been blacklisted.

The previous blocking was carried out at the end of December. The blacklisted address contains 1.2 million USDT along with a host of other tokens. The ownership of the address is also unknown.

“Through the address freeze, Tether was able to help recover funds stolen by hackers or otherwise misappropriated,” the company explained.

In some cases, Tether also provides refund services for USDT sent to an inaccessible address by freezing existing tokens and issuing new ones to replace them.

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