Tether Freezes Five Ethereum Addresses with 24.35 Million USDT

Tether, the issuer of the USDT stablecoin pegged to the US dollar, has frozen five addresses on the Ethereum network. These addresses collectively held approximately 24.35 million USDT. The transaction was reported by SlowMist, a company specializing in blockchain security. According to their data, the freeze occurred about eight hours before the publication.

Following the freeze, USDT transfers to these addresses became impossible. MistTrack, a platform associated with SlowMist that tracks blockchain transactions, analyzed the history of one of the frozen addresses. According to their findings, this address interacted with wallets previously involved in phishing attacks and investment fraud. Specifically, it refers to schemes known as "pig butchering," where victims are lured into fake investment deals, gradually building trust.

Based on this data, MistTrack suggested that Tether's decision might be related to addresses potentially involved in criminal activities. However, there is no definitive confirmation that all five addresses were used for illegal operations yet. Details of the official request or security assessment that led to the freeze are also not disclosed.

Stablecoin issuers can freeze transfers from suspicious addresses. Such measures are applied to restrict the movement of illegally obtained funds and seize assets potentially linked to fraud. The latest case has again drawn attention to the tracking of stablecoin transactions through blockchain data analysis and security measures against suspicious fund movements.