Tether ( USDT ) has blacklisted some new Ethereum addresses
Tether(USDT) is a blockchain-based cryptocurrency that is hosted on the famous Ethereum blockchain. This is just a simple definition of Tether(USDT). As crypto fanatics, you won’t need any more descriptions or essays about tether because of its popularity and its importance.
So the Tether has executed a very important decision yesterday. The whole crypto market is watching this decision.
So the decision was, Tether has blacklisted some new Ethereum addresses. This move was taken after the company measures against three accounts that were alleged to be involved in cybercrimes. The three accounts were Ethereum addresses and these three addresses hold $150 million worth USDT coins.
Tether being a centralized blockchain it has the ability of blacklisting addresses. In case of if they notice any unusual activities they will blacklist and hold accounts and addresses.Since 2017 Tether has blacklisted a total amount of 563 addresses.
Still, tether has not announced the reason for blacklisting but they won’t blacklist any address without any reasons. Previously in 2020 Tether hold an amount of $35 million USDT to prevent a hack that was trying to theft money. Most companies blacklist for main reasons like precautionary reasons, scam reasons, and many other monetary-based reasons.
Tether is the widely known US dollar-based stablecoin which always price $1.00. Tether is now the fourth highest cryptocurrency with a market capitalization of $78 Billion.