Tether briefly froze $1.45 million in THORChain USDT
THORChain co-founder Chad Barraford said Tether froze about $1.45 million in USDT across four vault wallets before removing the blacklist roughly two hours later.
THORChain technical co-founder Chad Barraford said Tether temporarily blacklisted four of the network’s USDT vault addresses on Friday, freezing about $1.45 million in funds. Tether removed the blacklist roughly two hours later, according to Barraford.
The funds were held across four wallets connected to THORChain. Blacklisting the addresses prevented the vaults from using the USDT, a stablecoin issued by Tether and designed to track the U.S. dollar.
“We don’t know why this choice was made and have had no comms with USDT before this action and are actively reaching out to have a conversation,” Barraford wrote before the addresses were unfrozen. “We hope that this was made in error / misunderstanding.”
After Tether removed the blacklist from all four addresses, Barraford reported that trading would resume. Tether and THORChain had not immediately provided further details about the freeze.
Earlier this week, cross-border payments platform Conduit Technology filed a lawsuit against Tether. The company alleges that Tether froze $2.76 million in USDT held in a wallet linked to an investigation opened by Brazilian authorities in 2024.
In August, two Thai nationals also sued Tether, alleging that the company froze $42.4 million in USDT after receiving an informal request from U.S. Homeland Security Investigations.
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