Tether Restricts USDT in Sanctioned Accounts
Tether, responsible for USDT, implemented restrictions on wallets associated with U.S. sanctioned individuals designated by OFAC.
Among the 161 Ethereum wallets frozen, a notable 150 show no presence of USDT.
The remaining 11 wallets house a collective 3.5 million USDT, predominantly concentrated in one address flagged in connection with a recent breach at the Stake platform, as highlighted by ZachXBT’s investigation.
Within this group, two wallets contain roughly 20,000 USDT each, while another holds nearly 60,000 tokens.
The rest maintain smaller amounts, with one particular wallet merely containing 16 cents’ worth of frozen USDT.
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Notably, a prior movement of 400,000 USDT from THORChain through these wallets, just before the freeze, creates complications in tracking the funds’ route.
Additionally, some wallets might hold USDT across various blockchain networks, evidenced by findings on Polygon; however, there’s an absence of USDT on Arbitrum or Optimism sanctioned lists.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
