the ongoing bullish market sentiment, where the majority of cryptocurrencies are experiencing upward moves in the last few days, Tether, the world’s third-largest and biggest stablecoin, has blacklisted a few wallet addresses. However, all these blacklisted addresses hold a substantial amount of USDT, with a combined value of $21.22 million.
Tether blacklists these wallet addresses
Today on March 5, 2024, the security firm PeckShieldAlert posted on X (formerly Twitter), releasing a comprehensive report about a recent incident. According to the post on X, the following wallet addresses have been blacklisted:
0x44c9503188827034377353a9f6d876eea15933c9 (Balance: 20.01 million USDT)
0xc20dcb6c4fec2516e21cf52648177721e2744988 (Balance: 500K USDT)
0xc0c9baf6bb9b932eef4a60267aa8c530af5cb62c (Balance: 500K USDT)
0xf2c678b283b58ac43b9975d13ab3f7ce87422ce0 (Balance: 217.12K USDT)
The major reason behind Tether’s action is not yet known, but it may be linked to these wallets’ association with illegal activities. Previously, we witnessed several similar actions by Tether in November 2023 and December 2023. During these instances, Tether blacklisted wallets to prevent crypto fraud and also froze $225 million in a human trafficking investigation.
In addition to these two major possibilities, there is speculation that these wallet addresses are linked to terror groups. This speculation arises from a previous incident in October 2023 when Tether froze nearly $1 million USDT, as reported by Todayq News.
Tether’s recent achievements
Besides this major incident, on March 4, 2024, Tether’s USDT reached a market capitalization of $100 billion for the first time. Moreover, this market capitalization has grown by $2 billion over the past week. Following the achievement of a $100 billion market cap, Tether is poised to benefit from the continuously increasing demand for liquidity in crypto trading. Furthermore, in the last 24 hours, the trading volume of Tether USDT has surged by over 57% and currently stands at nearly experi