Tether, one of the leading stablecoin companies, blacklisted an Ethereum address with over $1 million USDT balance last week.
Tether froze $1 million worth of USDT last week, according to on-chain data. After the freeze on December 30, the owner of the wallet will no longer be able to carry their frozen funds. When an address is blacklisted, the USDT balance is frozen and cannot be moved.
Who Does the Address Own?
It was not disclosed who owns the address that holds many tokens in five-digit numbers. Tether did not provide details to The Block team, who contacted them about the issue, to protect the owner’s privacy. But he said the company is working with regulators around the world on many issues, including issues like hacking and fraud. Tether spokesperson made the following statement on the subject: