#TetherFreezesUSDTLinkedToLedgerTheft An important lesson from the Ledger incident: freezing USDT is not the same as recovering funds
After crypto assets were stolen from Ledger users in connection with devices from the seller CryptoBilis, Tether froze $USDT on addresses linked to the incident.
According to on-chain analysts at Bitquery, total losses amounted to about $93.2 million, while approximately $10 million in USDT was frozen.
This is a fundamental distinction: freezing stops certain tokens from being moved, but does not guarantee they will automatically be returned to victims. Some of the funds were also converted into other assets beyond Tether’s authority.
What does this mean for users?
• $USDT is a centralized stablecoin whose issuer can freeze tokens at certain addresses.
• A hardware wallet does not guarantee absolute security if the device itself or the recovery phrase is compromised.
• It is important to verify where devices come from, never share your recovery phrase with anyone, and never enter it on third-party websites.
Self-custody gives you control over your keys, but does not eliminate all technical risks. And while freezing a stablecoin can help an investigation, it is not the same as compensating victims for their losses.
#USDT #Ledger #crypto
After crypto assets were stolen from Ledger users in connection with devices from the seller CryptoBilis, Tether froze $USDT on addresses linked to the incident.
According to on-chain analysts at Bitquery, total losses amounted to about $93.2 million, while approximately $10 million in USDT was frozen.
This is a fundamental distinction: freezing stops certain tokens from being moved, but does not guarantee they will automatically be returned to victims. Some of the funds were also converted into other assets beyond Tether’s authority.
What does this mean for users?
• $USDT is a centralized stablecoin whose issuer can freeze tokens at certain addresses.
• A hardware wallet does not guarantee absolute security if the device itself or the recovery phrase is compromised.
• It is important to verify where devices come from, never share your recovery phrase with anyone, and never enter it on third-party websites.
Self-custody gives you control over your keys, but does not eliminate all technical risks. And while freezing a stablecoin can help an investigation, it is not the same as compensating victims for their losses.
#USDT #Ledger #crypto