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Tether, the issuer of the USDT dollar-pegged stablecoin, has blacklisted 35 wallet addresses on the Tron blockchain. Approximately $27 million in USDT was frozen as a result, according to data from the TrustSniffer analytics platform.
Three additional addresses were also frozen on the Ethereum network. Tether did not disclose the reasons why these addresses were targeted.
Most of the blocks occurred almost simultaneously. The largest frozen wallet held approximately $7.8 million. Twenty-five Tron addresses were flagged as suspicious and frozen within a minute, meaning wallet owners had virtually no opportunity to avoid the freeze.
At the time of the flagging, ten wallets held zero USDT. Seven addresses accounted for approximately $25.7 million, representing roughly 95% of the total frozen amount:
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- TB8GRF5b…kh2KUX — approximately $7.8 million;
- TBuXHhnG…kX9V1Y — approximately $3.85 million;
- TCHwMKFz…aNWein — approximately $3.15 million;
- TW6QDTFB…NL3QCn — approximately $3 million;
- TAvQz2bT…QjHAjQ — approximately $3 million;
- TTkHW4ak…7RkycE — approximately $2.5 million;
- TLN8s39i…GA22a2 — approximately $2.3 million.
Over the past 30 days, blockchain analysts have recorded 487 instances of stablecoin freezes. The record was set on October 14, with 67 freezes. The second-highest figure was on October 9, with 55 freezes.
Earlier in October, Tether froze approximately $2.2 million in USDT linked to the loss of cryptocurrency from the wallet of Indian exchange CoinDCX, which lost $16 million. In September, the MistTrack service reported the freeze of $39 million in USDT on wallets associated with the Xinbi platform. In July, Tether blocked 131 wallets on the Tron network after the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on addresses linked to the ISIS-K terrorist group.
In early October, cross-border payment provider Conduit Technology filed a lawsuit against Tether in the U.S. District Court for the Southern District of New York. Conduit Technology is seeking the return of $2.76 million that has been blocked since September of the previous year.
