Tether Freezes Address Holding $10 Million USDT on TRON Blockchain
CryptoNewsTerminal Staff09 Aug, 2024
Tether Freezes Address Holding $10 Million USDT on TRON Blockchain
Tether, a leading stablecoin issuer, has frozen an address holding approximately $10 million worth of USDT on the TRON (TRX) blockchain. According to Whale Alert, the freeze occurred at 10:58 AM (KST) on the 9th of this month. The frozen address has been dormant for the past 72 days and 22 hours, with its last transaction being the receipt of 20,000 USDT from an external address. The total balance of the address at the time of freezing was slightly over $10 million. The reason behind the freeze is currently unknown, but Tether has a history of freezing addresses associated with illicit activities. It is possible that the frozen address may have been linked to such activities, prompting Tether to take action. This incident highlights the importance of using stablecoins from reputable and transparent issuers. Tether has a proven track record of freezing addresses associated with criminal activities, demonstrating their commitment to maintaining the integrity of the USDT ecosystem.
