Tether Blacklists Five Addresses on TRON Blockchain
Tether, a leading stablecoin issuer, has recently taken action to blacklist five new addresses on the TRON blockchain. This move, reported by ChainArgos, demonstrates Tether’s ongoing commitment to maintaining the integrity and security of its network.
Recent Blacklisting by Tether
ChainArgos, a blockchain intelligence firm, revealed that Tether has blacklisted five new addresses on the TRON blockchain. These addresses are TU4isedhHXquDQQvyK4CVGNRDWTvwqTpxR, TSrYN29e3yaCCQmwRsJjcYUHaH8sF5gENC, TLA6AgDY2Vkbm4LSBDp5NAAwXG2sUysbN9, TTxG1K83vkWz9XFLZJSberhvrZghHVDW5B, and TEUDYsGYbPShTeqJMZ6GdA2ydj4j1UkyW3. Notably, the address ending with ysbN9 lost over $1.2 million USDT.
Background on Tether’s Blacklisting Practices
Tether has a history of actively blacklisting addresses on its network. As of July 2020, Tether had blacklisted 39 Ethereum addresses for reasons such as law enforcement requests and proactive measures in recovering stolen funds. These blacklisted addresses held millions worth of USDT, with the largest one containing over 4.5 million USDT.
Reasons for Blacklisting
Tether blacklists addresses for various reasons, including connections to criminal activities, precautionary measures against scams or Ponzis, and in response to law enforcement investigations. Addresses may also be blacklisted to prevent errors or protect others from making mistakes. Tether’s general counsel has stated that the company regularly assists law enforcement and helps users and exchanges recover stolen funds through their address freeze feature.
Impact on Affected Addresses
Once an address is blacklisted by Tether, it loses the ability to transact with USDT, effectively freezing any existing coins in the address. This can have a significant financial impact, particularly when large amounts of USDT are held in the blacklisted address.
Hot Take: Tether Takes Proactive Measures to Secure Network
Tether’s recent blacklisting of five addresses on the TRON blockchain demonstrates its commitment to maintaining a secure network. By actively addressing potential risks and taking steps to prevent criminal activities, Tether aims to protect its users and maintain the integrity of its stablecoin. With ongoing cooperation with law enforcement agencies and a track record of assisting users and exchanges in recovering stolen funds, Tether continues to play a crucial role in the crypto ecosystem.
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