Tether blocks USDT stablecoins for $ 160 million

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Tether has blacklisted three Ethereum addresses that hold over $ 160 million worth of USDT. Stablecoin holders will no longer be able to move them.

According to Etherscan, the wallets were blocked on January 13 at 19:27 Moscow time. According to Tether in an email to Coindesk, the addresses were blocked at “a request from law enforcement.” The company did not provide any other data in order to keep the identity of the address owners confidential.

This is the first time that Tether has blocked addresses this year. Over the past year, 312 addresses were blacklisted. There are 563 addresses in this list now. Recall that the first blocking of Tether wallets occurred on November 28, 2017.

Not everyone likes this “power” of a centralized company over the popular stablecoin, so the popularity of the stablecoin TerraUSD (UST) is rapidly growing. It is a decentralized stablecoin with a capitalization of more than $ 10.6 billion recently. In comparison, the capitalization of USDT is $ 78.4 billion.

At the end of December, Tether blocked the user’s address that held over 1 million USDT. Then it was reported that the address was added to the blacklist at the request of regulators.

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