Tether Adds Five Addresses to Blacklist, $54.1M USDT Impounded
CryptoNewsTerminal Staff17 May, 2024
Tether Adds Five Addresses to Blacklist, $54.1M USDT Impounded
Tether, the issuer of the popular USDT stablecoin, has added five addresses to its blacklist, according to blockchain security firm Arkham Intelligence. The total value of the USDT held by the blacklisted addresses is approximately $54.1 million. The reason for the blacklisting is currently unknown. Tether's blacklist is used to freeze and prevent the movement of USDT associated with illicit activities, such as fraud, money laundering, and terrorism financing. The company has the ability to blacklist addresses at its own discretion and does not require a court order or other legal process to do so. The addition of these five addresses to Tether's blacklist is a reminder that the company is actively monitoring the use of its stablecoin and is prepared to take action against those who use it for illegal purposes.
