Tether Places a $160 Million USDT Block On The Ethereum Blockchain
Tether says it froze three Ethereum blockchain addresses containing $160M on a law enforcement request; Bloxy data reveals Tether froze 563 addresses during 2017 — Stablecoin issuer Tether froze three Ethereum addresses on Thursday, containing approximately $160 million worth of USDT, according to statistics from Etherscan.
Stablecoin issuer Tether froze three Ethereum addresses on Thursday, containing approximately $160 million worth of USDT, according to statistics from Etherscan.
- The three accounts will now not be able to shift funds.
- In total, Tether has banned 563 addresses on the Ethereum blockchain since November 2017, according to the Bloxy block explorer.
- Tether has indicated in the past that it constantly engages with regulators to manage questionable accounts.
- An address with over $1 million in USDT was locked in late December.
- Tether, which generates tokens on various blockchains, began blacklisting addresses following a November 2017 incident in which the firm alleged $30 million of USDT was stolen.
- “On the basis of a request from law authorities, Tether has frozen three Ethereum blockchain addresses with a total of $160 million USDt today. Unfortunately, we are unable to provide any additional information at this time “In an email, a representative from Tether explained the situation.
Here is a video about the tether USDT, do watch it:
Frequently Asked Questions:
- Does Tether run on Ethereum?
Ans. Tether issues tokens on The Following: Bitcoin, Ethereum, Algorand, SLP, EOS, Tron, and OMG blockchains.
2. Is Tether a good investment in 2021?
Ans. Potentially. Because it is a stablecoin, its value should remain constant at $1, plus or minus a couple of cents per transaction. That is precisely the idea of it — it is not intended to generate profits or losses in and of itself, but rather to serve as a reliable store of value.
3. Can you make money on Tether crypto?
Ans. A technique that is widely used by other exchanges, like as Binance and Coinbase, is to make investments in the cryptocurrency ecosystem itself. Tether makes money from those investments in one of two ways: either by sharing in the profits of the company or by selling its shares for a higher price than they were purchased for.