Tether blocked an address with more than $1 million worth of cryptocurrency
The issuer's blacklist has 560 users
05.01.2022 - 13:05
432
1 min
0
What’s new? The issuer of the USDT stablecoin, Tether, has blocked an Ethereum address with more than $1 million in digital assets. Who owns the address and the reason for the blocking are unknown, The Block reports.
What does the Tether wallet blocking mean? When funds are frozen, they cannot be withdrawn. Tether began blocking wallets in 2017, with more than 560 wallets blacklisted to date. Tether’s representative said that the company regularly cooperates with law enforcement agencies around the world. By freezing addresses, Tether has been able to recover the funds stolen or compromised by the hackers. Tether also has a “recovery” mechanism, meaning it can freeze USDTs and in some cases reissue them. This feature will help if the user sends money to the wrong address.
Useful material?
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024
Market
The $1,1 billion figure was reached after the bitcoin correction
Dec 6, 2024
Crypto regulations
By early January, all open positions and loans of local users will be closed and repaid automatically
Dec 5, 2024