Tether has frozen a total of 215 USDT addresses on Ethereum in 2022 so far, according to data compiled by ETH researcher Philippe Castonguay.
Major stablecoin issuer Tether has frozen another batch of USDT
on the Ethereum blockchain, freezing over $8 million worth of cryptocurrencies.
Crypto monitoring resource Whale Alert has identified several transactions indicating that Tether froze three USDT addresses on Oct. 10.
According to data from transaction logs on Etherscan, the frozen addresses contain 3.4 million USDT, 1.95 million USDT and 2.9 million USDT. The addresses can no longer move funds and are collectively worth $8.2 million in the USDT stablecoin.
“Tether is working closely with law enforcement around the world to assist with investigations and has so far helped freeze over $360 million in assets, of which $101 million has been reissued or are scheduled to reissue,” a Tether spokesperson said. the Cointelegraph.
Tether is in almost daily contact with key law enforcement officials and when the company receives a legitimate request from a verified law enforcement official to freeze a private wallet, the company complies with the freeze, the representative said. “We do not freeze wallets of exchanges or services,” the spokesperson added.
The company declined to comment on the nature of the new freezes, saying: “Tether is unable to comment on any type of cooperation with law enforcement agencies in furtherance of its compliance policy and regulatory obligations.”
The latest freezes are far from the first time Tether has blacklisted Ethereum-based USDT addresses. As previously reported, Tether froze three Ethereum addresses worth over $150 million USDT worth of Ethereum in January 2022.
Tether has actively cooperated with regulators and has blacklisted a total of 795 USDT addresses on Ethereum since it first blacklisted a USDT address in November 2017.
Related: Tether Commercial Paper Exposure Now Under $50M – CTO
According to data from a Dune Analytics panel compiled by Ethereum researcher Philippe Castonguay, Tether has blacklisted 215 Ethereum-based USDT addresses in 2022 so far. By comparison, Tether blacklisted 357 Ethereum-based USDT addresses in 2021.
Source: Dune Analytics
The total amount of Ethereum-based USDT in all banned wallets is worth more than 443 million, or 0.64% of the 65 billion USDT in circulation at the time of writing, according to data from CoinGecko.