$ETH
$1.28 billion in USDT frozen just like that
Tether has stepped in this time
Even hackers’ money can be put on pause
Whoa
Guys
Something big has happened in crypto again
According to on-chain monitoring
Two wallet addresses holding huge amounts of USDT were frozen one after the other
One held about $313 million
The other about $971 million
About $1.284 billion in total
What does that mean?
More than $1.2 billion
Unable to move in the blink of an eye
The most noteworthy thing here
Isn’t just how huge the amount is
It’s the unseen hand behind USDT
A lot of people think
Once cryptocurrency is on the blockchain
No one can control it
But USDT is different from BTC
USDT is issued by Tether
The issuer can blacklist specific addresses through a smart contract
Once an address is frozen
The USDT in it still appears on the blockchain
But it can’t be transferred as usual
Put simply
The wallet is yours
The address is yours too
But if the issuer freezes it
The money inside can only sit tight for now
What’s more, this freeze happened after Binance revealed a major security incident
Naturally, the market is linking the two events
But so far, there’s not enough public evidence to prove that the funds in these two addresses came from that incident
The reason for the freeze has also not been officially disclosed
So, guys
$1.28 billion in USDT frozen just like that
Tether has stepped in this time
Even hackers’ money can be put on pause
Whoa
Guys
Something big has happened in crypto again
According to on-chain monitoring
Two wallet addresses holding huge amounts of USDT were frozen one after the other
One held about $313 million
The other about $971 million
About $1.284 billion in total
What does that mean?
More than $1.2 billion
Unable to move in the blink of an eye
The most noteworthy thing here
Isn’t just how huge the amount is
It’s the unseen hand behind USDT
A lot of people think
Once cryptocurrency is on the blockchain
No one can control it
But USDT is different from BTC
USDT is issued by Tether
The issuer can blacklist specific addresses through a smart contract
Once an address is frozen
The USDT in it still appears on the blockchain
But it can’t be transferred as usual
Put simply
The wallet is yours
The address is yours too
But if the issuer freezes it
The money inside can only sit tight for now
What’s more, this freeze happened after Binance revealed a major security incident
Naturally, the market is linking the two events
But so far, there’s not enough public evidence to prove that the funds in these two addresses came from that incident
The reason for the freeze has also not been officially disclosed
So, guys
