Tether Blacklisted Three More Ethereum Addresses, Freezing $160M USDT

Tether, the issuer of USDT, has added three more Ethereum addresses to its blacklist, successfully freezing $160 million USDT that was held on them.

The company explained this move in an email to Coindesk, stating that the assets were frozen upon a request from law enforcement. The spokesperson added that no further details may be disclosed at the moment.

As the data from the Bloxy block explorer shows, there are now 563 Ethereum addresses on Tether’s blacklist. Owners of these addresses are unable to move their funds. Tether first utilized its blacklist option in November 2017. Usually, the issuer freezes assets following the demand from cryptocurrency exchanges or law enforcement officials

The crypto community has a mixed reaction to the news. Some users point out the importance of fighting criminal activity and money laundering on-chain, while others cry out for decentralization. Do Kwon, the CEO of the Terra blockchain, used the news as an opportunity to shill his UST stablecoin, stating that there’s no backdoor to freeze it.

Leave a Reply