Tether has blacklisted an address containing over $ 1 million in USDT. The reason for this decision was called a request from regulators, but the company did not provide details.
Starting the “AddedBlacklist” function
passed December 30, and the lock itself was initiated in this transaction. There are many different tokens stored in the wallet, but Tether can only block transfers of USDT as part of its smart contract.
The owner of the wallet remains unknown. A spokesman for Tether declined to provide details “to protect user privacy,” but stressed that the company is working closely with regulators and law enforcement agencies around the world, including to block funds that have been stolen or used for fraud.
Tether began its practice of blocking USDT addresses in 2017. Currently, there are over 500 addresses on the blocked list. The issuer also has a mechanism for restoring access to assets – tokens are issued on another wallet. It is quite possible that after the end of the investigative actions, the blocked 1,091,557 USDT will be returned to the user.
USDT is the leader in the stablecoin market. But, according to Peter Johnson, partner at Jump Capital, in the future, USDC and UST stablecoins may increase capitalization to trillions of dollars and supplant the Tether token.
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