Tether Freezes $150 USDT Lab

Tether has blacklisted three Ethereum sites that hold more than $150 million USDT stablecoins.

As a large company, Tether can list black addresses that it believes are involved in crime, laundering, or other reasons.

This is the first time Tether has been blacklisted in 2022, but last year it blacklisted 312 addresses and added 563 addresses since it was first blacklisted on November 28, 2017.

Tether did not announce why our new address was blacklisted, but used its rights to blacklist addresses related to cyberattacks and police investigations. After Kucoin was stolen in September 2020, Tether secured approximately $35 million in USDT to prevent hackers from stealing.

There may also be "defense measures" for the black address, such as those involving fraud, which Arcane Asset chief Eric Wall said was another reason for Tether's stronghold in 2020.

Concerns over the lack of decentralization could be key to the adoption of TerraUSD (UST) stablecoins on the Terra Stability Coin Algorithmic Blockchain. It is now the fourth largest consolidation with a net worth of $10.6 billion. However, the market cap of this decentralized challenger is still dwarfed by USDT, the fourth largest cryptocurrency with a market cap of $78.5 billion.

Terra creator Kwon Do tweeted to the news on Tether that there is no way to blacklist UST addresses.