According to Ethereum platforms Etherscan and Dune Analytics, Tether has added another address to its list of blocked addresses with a balance of over $1 million in USDT.
On December 30, Tether applied the “AddedBlacklist” function to the corresponding Ethereum address. Who is the owner of the wallet and why it was blocked is still unknown.
The practice of blocking Tether addresses began at the end of 2017. Since mid-2020, the dynamics of blocking such addresses has rapidly increased. To date, this list has grown to 560 addresses. Their owners cannot conduct any transactions.
Tether has a “refund mechanism” that allows USDT to be frozen and returned. The mechanism involves blocking the incorrectly sent amount and refunding it to the account of the erring user.
In addition, last year Tether began testing cryptotransaction tracking. Notabene's solution tracks users and collects their data, which can be shared with regulators.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
The growth of the bitcoin rate at the beginning of the week is again associated with Tether
The second large tranche of Tether in the last two weeks gives hope for the revival of the ascending market and the rise of the Bitcoin rate.
Swiss stablecoins approved in the Middle East
Swiss cryptocurrency company X8 AG has received an Islamic company certificate for its stablecoins, confirming compliance with Sharia law, and is planning to operate in the Middle East.
