Tether added 35 Tron wallets to the USDT blacklist in six seconds on Friday, across three blocks starting at 20:09 UTC+8. Four were THORChain vaults. Those four were the only ones taken off the list, 3 hours 21 minutes later.
We traced the other 31. Every one leads back, in two hops or fewer, to the Tron wallets investigator Specter flagged in the Ledger CryptoBilis reseller drain. One of them is a flagged wallet itself. 27 received a single, exact $500K transfer, either from a flagged wallet or from a wallet a flagged one had just funded.
19 still hold $500K each, $9.5M in total. By our math that's about 15% of the $65.2M in USDT that went through the flagged wallets. The other 12 were already empty when the freeze landed. Their money left between 18:39 and 19:54 UTC+8.
THORChain's vaults held about $1.45M and, as far as we can see on-chain, received nothing from these wallets on Friday. Tether hasn't said why they were included. Co-founder Chad Barraford says the team got no advance warning, and THORChain's Tron swaps stayed halted until the unfreeze.
Tether caught $9.5M of the drain. THORChain caught a three-hour outage.
$USDT $RUNE
#Tether #THORChain
NFA. DYOR.
We traced the other 31. Every one leads back, in two hops or fewer, to the Tron wallets investigator Specter flagged in the Ledger CryptoBilis reseller drain. One of them is a flagged wallet itself. 27 received a single, exact $500K transfer, either from a flagged wallet or from a wallet a flagged one had just funded.
19 still hold $500K each, $9.5M in total. By our math that's about 15% of the $65.2M in USDT that went through the flagged wallets. The other 12 were already empty when the freeze landed. Their money left between 18:39 and 19:54 UTC+8.
THORChain's vaults held about $1.45M and, as far as we can see on-chain, received nothing from these wallets on Friday. Tether hasn't said why they were included. Co-founder Chad Barraford says the team got no advance warning, and THORChain's Tron swaps stayed halted until the unfreeze.
Tether caught $9.5M of the drain. THORChain caught a three-hour outage.
$USDT $RUNE
#Tether #THORChain
NFA. DYOR.