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Tether blocked more than $ 1 million USDT belonging to a wallet address.

Last week, one Ethereum address reportedly had more than $ 1 million in USDT inventory. By Tether Was blocked and blacklisted. A Tether expert has stated that Tether always works with blockers to block addresses. This address contains a large amount of USDT because it belongs to a blockchain address. On December 30, Tether called “AddedBlacklist” to stop the lecture.

A blocked wallet address is not able to transfer blocked funds. Because when Tether puts an address on its blocklist. Inventory also wholly blocks it. The owner of the mentioned address is not known. But this person kept the tokens fixed in the 5-digit range and did not move them outside. Tether experts have also refused to release the personal information of the owner of this address to protect the privacy of its subscribers. But it has reassured users that tether regulators are always on the lookout for hacking and fraud files.

freezes the USDT balance of it
freezes the USDT balance of it

 

A Tetra spokesman said:

Tether has recovered funds stolen by hackers and fraudsters by blocking addresses. Help a lot.

More than 500 Ethereum addresses have been added to the denylist.

According to statistics, Tether has started blocking blockchain addresses since 2017. And so far, it has added more than 500 Ethereum addresses to the blocklist. Tether also introduced a recovery mechanism, which can freeze the USDT by this mechanism. And republish them. For example, if a user has sent the USDT to the wrong address. It can help the USDTs recover by freezing them.

Source: theblockcrypto

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