Tether Blacklists Ethereum Address Linked to Multichain Hack
The address, containing more than $715,000 of USDT stablecoins, traces back to hackers who stole $3 million from Multichain users.
Make preferred on
Share this article
- Stablecoin issuer Tether has frozen an Ethereum address holding over $715,000 worth of USDT, according to data from block explorer site Etherscan.
- The address traces back to hackers who stole $3 million in cryptocurrency on the cross-chain bridge Multichain nearly a month ago, according to Etherscan's labeling of transactions involving the wallet as well as a CoinDesk analysis.
- Whoever controls the address will not be able to move funds so long as they are frozen.
- The hack on Multichain was made possible by a security vulnerability, which the team behind the project warned users about in January.
- Tether did not immediately respond to a request for comment
- Three addresses with over $160 million in USDT were frozen in mid-January at the request of law enforcement.
- Tether, which issues tokens on several blockchains, began blacklisting addresses following a 2017 breach in which the firm said $30 million of USDT was stolen.
UPDATE (Feb. 11, 18:56 UTC): Adds link to first bullet point and attribution to second.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
