40 Ethereum Addresses Blacklisted, Holding Millions of Dollars Worth of Tether's USDT

Tether, the creator of the leading stablecoin USDT, has been on a blacklisting spree and has blacklisted at least 39 Ethereum addresses since November 2017. Out of these 40 addresses, 25 have been blacklisted this year.

Philippe Castonguay, an Ethereum researcher, has created a dashboard that shows the number and list of addresses blacklisted by Tether up until now. All these blacklisted addresses would not be able to send or receive USDT, and the existing tokens in these addresses became useless. All the blacklisted addresses contain the millions worth of USDT and even one of the latest blacklisted address contain over a $1 million worth of tokens.

The million-dollar Ethereum address received 938,965 USDT tokens from Binance only last month. The owner of the address tried moving the funds the next day. It got blacklisted, but the transactions never went through.

Among all the blacklisted addresses, a majority of them contain around $100 USDT on average. However, the most valuable address consists of $4.5 million worth of USDT, along with 330,000 BUSD tokens and 13,500 ETH in it.

The blacklisting is mainly done if the address is suspected to be involved in any form of illegal or unusual activity and often on the request of authorities. As of right now, no one knows who owns these Ethereum addresses containing millions worth of cryptocurrencies.

Bitfinex, a sister company of Tether's Stuart Hoegner the general counsel, commented on the recent slew of blacklisting and said,

“Tether routinely assists law enforcement in their investigations… Through the freeze address feature, Tether has been able to help users and exchanges to save and recover tens of millions of dollars stolen from them by hackers.”

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James W
James is a cryptocurrency enthusiast, an advocate for the development and exposure of blockchain technology, and believes in the use of digital assets for the good of the society. Enthralled by the huge potential of cryptocurrencies and their underlying technology – blockchain – James dedicated himself to learn more about the industry, becoming a highly sought-after writer in the sector. He covers news, white papers and any content related to cryptocurrency and blockchain in general.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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