Tether Freezes Addresses on Ethereum Linked to Multichain Heist
Tether Holdings, the issuer of the USDT stablecoin, has taken action by freezing two addresses on the Ethereum network that received funds from Multichain’s multi-party computation (MPC) address. The flagged addresses collectively hold about 2.53 million USDT.
Key Points:
– Tether freezes two Ethereum addresses holding 2.53 million USDT.
– Multichain experienced a significant outflow of assets, valued at approximately $130 million, on July 7.
– Multichain advised users to cease utilizing their services and suspended operations indefinitely.
– Circle, the issuer of USD Coin (USDC), also took action against wallet addresses involved in the incident.
– The exact details of the Multichain breach and the individuals behind the suspicious transactions remain unknown.
The freezing of these addresses by Tether follows a similar action taken by Circle against addresses linked to the same incident. The frozen funds cannot be moved at this time, but it is unclear whether they will be returned to Multichain. The lack of information surrounding the breach and the identities involved adds to the intrigue surrounding the situation.
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