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Tether limited, the company that delivers the usdt stablecoin, announced its recent decision to freeze about 160 million dollars of the stablecoin connected to the ethereum blockchain from three addresses.
this is not the first case that tether has gone on to freeze addresses holding its stablecoin. According to the bloxy block browser data, tether has made similar decisions in the past, with 563 addresses on the ethereum blockchain blacklisted to date. tether has been doing this since 2017, while last year alone, 312 addresses were blacklisted.
"through the freezing of addresses, tether has been able to help recover funds stolen by hackers or are compromised," a tether spokesperson stated.
The decision, according to Tether, was motivated by a "law enforcement demand" and was therefore made in accordance with the federal authority. According to Tether, their company only responds to these requests once it is in a position to determine that the funds are recoverable from Tether.
“today, tether has frozen three addresses on the ethereum blockchain containing $160m usdt upon a request from law enforcement. at the moment we are unable to disclose any further details” the tether spokesperson said.
The three addresses listed by tether are now dysfunctional and will be investigated further by the authorities who asked tether to deactivate them. By far, this latest blacklist of the company is the largest in response to an offence or investigation. just last month, tether also froze this address which held some $1 million in usdt.
The blacklisted addresses do not currently identify any identifiable individuals or groups, and Tether did not disclose any further information.
Note: this story is being developed and cryptodaily will update this article with relevant information when available and the question takes place.
