Tether Freezes USDT Linked to Recent Ledger User Thefts
In a swift move to combat on-chain theft, Tether has frozen USDT associated with the recent wave of compromised Ledger hardware wallets. Here is a clear breakdown of the situation and its broader market implications.
📰 Core News
•Swift Action Blockchain security firm MistTrack reported that Tether has blacklisted and frozen USDT at addresses linked to the reported Ledger user thefts. [1]
• **Scale of Incident**: Suspected losses from these compromised wallets are estimated to be nearing $90 million across multiple networks, including Ethereum and TRON. [2]
• **Evasion Attempts**: Investigators noted that some of the stolen funds were quickly swapped into other stablecoins, such as USDD, in an attempt to bypass Tether’s freezing mechanisms. [3]
In a swift move to combat on-chain theft, Tether has frozen USDT associated with the recent wave of compromised Ledger hardware wallets. Here is a clear breakdown of the situation and its broader market implications.
📰 Core News
•Swift Action Blockchain security firm MistTrack reported that Tether has blacklisted and frozen USDT at addresses linked to the reported Ledger user thefts. [1]
• **Scale of Incident**: Suspected losses from these compromised wallets are estimated to be nearing $90 million across multiple networks, including Ethereum and TRON. [2]
• **Evasion Attempts**: Investigators noted that some of the stolen funds were quickly swapped into other stablecoins, such as USDD, in an attempt to bypass Tether’s freezing mechanisms. [3]