Secret

USDT issuer Tether has blacklisted another group of addresses after it publicly committed to fight illicit use of stablecoins.
In <a href="https://x.com/PeckShieldAlert/status/1764939314977522158?s=20" target="_blank" rel="noopener noreferrer nofollow">an X post</a> on Mar. 5, blockchain forensic firm PeckShield revealed that stablecoin issuer Tether has blacklisted another four addresses holding a total sum of $21.2 million worth of USDT. According to the post, the largest address contained $20 million worth of digital assets, while the remaining addresses held less than $500,000 each.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#PeckShieldAlert</a> <a href="https://twitter.com/hashtag/Tether?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Tether</a> has blacklisted the following addresses: 0x44c9503188827034377353a9f6d876eea15933c9 (Balance: 20.01M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDT</a>) 0xc20dcb6c4fec2516e21cf52648177721e2744988 (Balance: 500K <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDT</a>) 0xc0c9baf6bb9b932eef4a60267aa8c530af5cb62c (Balance: 500K <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDT</a>)… <a href="https://t.co/B0FnthgBjt" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/B0FnthgBjt</a>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1764939314977522158?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 5, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
You might also like: <a href="https://crypto.news/tether-new-security-policy-41-crypto-wallets-frozen/" rel="noopener noreferrer nofollow"> New Tether security policy sees 41 crypto wallets frozen </a>
The specific reasons for the blacklisting remain undisclosed by Tether at the time of reporting, leaving uncertainty regarding whether the addresses were involved in fraudulent activities or violations of sanctions. This latest move follows Tether’s public vow to crack down on the illicit use of stablecoins. Thus far, Tether has blacklisted over 1,200 addresses holding nearly $1 billion worth of USDT, according to <a href="https://dune.com/phabc/usdt---banned-addresses" target="_blank" rel="noopener noreferrer nofollow">data</a> from Dune Analytics.
In a December 2023 letter addressed to members of the U.S. House Financial Services Committee and the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Tether also <a href="https://crypto.news/tether-transparency-stance-us-lawmakers-crackdown/" target="_blank" rel="noopener noreferrer nofollow">emphasized</a> its focus on know-your-customer (KYC) procedures and regulatory compliance.
The USDT issuer disclosed that its KYC program underwent scrutiny by the IRS on behalf of FinCEN, a bureau of the U.S. Department of the Treasury. Additionally, Tether disclosed its collaboration with the U.S. Department of Justice, Secret Service, and FBI, resulting in the freezing of hundreds of wallets.
Read more: <a href="https://crypto.news/doj-captures-9m-in-tethers-usdt-from-pig-butchering-operation/" rel="noopener noreferrer nofollow"> DoJ captures $9m in Tether’s USDT from “pig butchering” operation </a>

Tether blacklists four addresses holding over $20m in USDT

crypto.news

Other articles published on Mar 5, 2024

Crypto Outlook: Algotech vs. Ripple vs Fetch.ai

Here's How Much $100 In Dogecoin Today Could Be Worth If DOGE Hits New All-Time Highs

Bitcoin Cash Price Prediction for Today, March 5 – BCH Technical Analysis

Raffle Coin (RAFF) Blows Up: Presale Skyrockets With Ripple & Tether Holders Rush Bull-Run

Delta Hardfork Triggered Significant Fees Reductions On Optimism-Based Layer-2 Chains

Nayib Bukele Awaits Global Recognition of El Salvador’s Bitcoin Gains

Join our free newsletter for daily crypto updates!