The Tether team has blocked 560 addresses since 2017

by in Cryptocurrency News


Tether, the issuer of the USDT stablecoin, has blocked 560 addresses over the past five years.

According to the EtherScan service, at the beginning of January, Tether added another wallet to the blacklist of Tether, containing more than $ 1 million worth of stablecoins.

USDT developers have been blocking suspicious addresses since 2017. However, the team did not disclose the reasons for this decision.

A Dune Analytics report states that holders of frozen wallets are unable to transact with stablecoin.

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Tether can block tokens if, for example, they were sent to the wrong address. The company may reissue USDT.

Tether continues to lead the world in secured digital currencies. The capitalization of USDT in early January 2022 exceeded $ 78.448 billion.

Most of the tokens are deployed on the Tron and Ethereum blockchains. Stablecoin is used both in crypto trading and international settlements. Tether accounts for up to 66% of all fiat-backed digital currency transactions.