Tether Implements Blacklist on USDT Addresses
Tether, the company responsible for issuing USDT, the leading stablecoin in the cryptocurrency market, has made the decision to blacklist more than 30 addresses that have moved substantial amounts of USDT. Chainargos, a blockchain security firm, revealed that on December 1, a total of 28 addresses were frozen in a significant operation. The blacklisted addresses received a total of $161 million in funds, which originated from Whitebit, a European exchange with Ukrainian roots. Additionally, Chainargos discovered that these addresses were involved in the transfer of STUSDT tokens, received by users who staked USDT.
Programmatic Spamming Operation Detected
Chainargos previously reported in August that they observed movements in 10,000 wallets involving transactions of $1 to $10 in STUSDT. They referred to this activity as a “programmatic spamming” operation.
Additional Wallets Frozen
On December 2, six more wallet addresses were frozen. These addresses had moved more than $10 million and contained assets of approximately $1 million. Many of the frozen wallets were also linked to STUSDT movements.
Tether’s Collaborations with Law Enforcement
Tether has not provided any official statements regarding the reasons behind these movements. However, the company has recently worked with the U.S. Department of Justice (DOJ) to freeze $225 million connected to human trafficking. Tether described this operation as the “largest-ever freeze of USDT.” In addition, Tether also blocked $9 million in assets related to pig butchering scams with the help of the DOJ and the U.S. Secret Service (USSS).
Hot Take: Tether Takes Action Against Suspicious USDT Movements
Tether, the issuer of the popular stablecoin USDT, has implemented a blacklist on over 30 addresses that have been involved in significant USDT transactions. The blacklisted addresses received a total of $161 million from Whitebit, a European exchange. Another interesting finding is that these addresses were utilized for transferring STUSDT tokens. Tether’s actions have brought attention to possible programmatic spamming operations and suspicious movements in the cryptocurrency market. This shows Tether’s commitment to maintaining a secure and transparent ecosystem for stablecoin transactions. Furthermore, Tether’s collaborations with law enforcement agencies such as the U.S. Department of Justice demonstrate its dedication to combating illegal activities in the crypto space.
By
By
By
By
By
By