The number of blacklisted Tether addresses on the Ethereum network has reached 100 for stablecoin USDT, according to The Block Research.
Source: The Block
For USDT on Ethereum, 39 addresses were found to have been blacklisted as of early July. 84 of the blacklist actions by Tether took place in 2020, with most of them happening after July.
Blacklisted addresses will not able to send, receive USDT or convert to fiat currency. Addresses are blacklisted when requested by law enforcement agencies or when the issuer, Tether, freezes stolen assets.
Also, regarding other popular stablecoin “USD coin (USDC)” backed by Coinbase, it was found that the address holding 100,000 USDC was added to the blacklist. This could be a stolen USDC, but the person in charge said he couldn’t give details, only explaining that he “has responded to a court order in the target area.”
As the DeFi boom, the demand for stablecoin is higher than ever. Last month, the market capitalization of USDT exceeded 15 billion dollars. On the other hand, the number of cases where funds are frozen at the discretion of the operator is increasing recently.
Read more:
- The Tron Blockchain Loses Another 500 Million USDT After A Chain Swap With Ethereum
- Paolo Ardoino Claims Tether Would Be Able To Recover $ 1 Million ERC-20 USDT Stuck In An Ethereum Address