THORChain’s Chad Barraford Claims Tether Blacklisted USDT Vaults
- Tether blacklisted THORChain vault addresses, freezing approximately 1.45 million USDT across four wallets.
- The freeze lasted for about two hours before Tether unfroze the addresses and trading resumed.
- Chad Barraford stated there was no prior communication from Tether regarding the freeze.
- Earlier this week, Conduit Technology filed a lawsuit against Tether for freezing $2.76 million USDt related to a Brazilian investigation.
- Two Thai nationals also sued Tether in August for allegedly freezing $42.4 million USDt following a request from US authorities.
The incident highlights ongoing tensions between stablecoin issuers and users, particularly regarding asset accessibility during investigations or disputes. The lack of communication from Tether raises concerns within the cryptocurrency community about transparency and operational practices.
This situation underscores the complexities surrounding stablecoins like USDT, especially given recent legal challenges involving significant amounts of frozen assets, such as the $42.4 million USDt case against Tether.
