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.
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