The issuer of the Tether frozen 8.2 million USDT on Ethereum Data

The issuer of the Tether frozen 8.2 million USDT on Ethereum Data QuoteCoin

New York City: According to data that was produced by an ETH researcher named Philippe Castonguay, Tether has so far frozen a total of 215 USDT addresses on Ethereum in the year 2022.

on the Ethereum network, preventing the transfer of more than 8 million dollars’ worth of bitcoin.

Several transactions that have been uncovered by the cryptocurrency monitoring platform Whale Alert suggest that Tether locked three USDT addresses on October 10th.

The transaction logs on Etherscan reveal that the addresses that have been frozen contain a total of 2.9 million USDT, 1.95 million USDT, and 3.4 million USDT respectively. The addresses, which are unable to transfer cash at this time, now possess a total value of USDT stablecoin equivalent to $8.2 million.

According to a statement sent to Cointelegraph by a representative of Tether, the company “works closely with law enforcement globally to help with investigations, including freezes.” “Tether cannot comment on any form of coordination with law enforcement authorities as part of its world-class compliance procedures,” the company said when asked to comment on the nature of the new freezes.

Tether has blacklisted Ethereum-based USDT addresses several times prior to the most recent freezes; this is not the first time it has done so. In January 2022, it was revealed that Tether locked three Ethereum addresses that held more than $150 million worth of USDT on Ethereum. These addresses were found to be storing USDT.

Since it first banned a USDT address in November 2017, Tether has blacklisted a total of 795 USDT addresses on Ethereum. This is part of the company’s ongoing efforts to actively cooperate with regulatory authorities.

Data from a Dune Analytics dashboard that was built by Ethereum researcher Philippe Castonguay indicates that so far in 2022, Tether has placed 215 Ethereum-based USDT addresses to the blacklist. In contrast, Tether banned 357 Ethereum-based USDT addresses in the year 2021.

At the time this article was written, there were 65 billion USDT in circulation. The entire quantity of Ethereum-based USDT that was stored on prohibited wallets had a value of more than 443 million USD. This is 0.64% of the total USDT supply.

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