39 Ethereum Addresses Blacklisted by TetherEndy Callahan
Blacklisting is one of the practices commonly applied when the crypto market detects suspicious activities, addresses, or individuals who perform illegal activities. We still remember the case when Centre blacklisted one hundred thousand in USDC. Now, there is another event that the mass media outlets mention. According to recent reports, Tether has decided to include thirty-nine Ethereum addresses in the blacklist. In total, that would make forty-six million in Tether.
The company blacklisted almost forty addresses with twenty-four owning more than five million USDT. Naturally, the company found it necessary to blacklist them this year. This’s rather a shocking message. Experts say that it shows on the back of the company’s first blacklisting that includes and mentions information regarding all those Ethereum addresses – as the document states, those addresses hold one hundred thousand USDC.
Researchers use various analytics and then create a special dashboard. They need it to be able to keep track of suspicious addresses and those that are already blacklisted. Both Tether along with Centre are fully accountant for this part of the investigation process. Specialists have found out that the largest address was responsible for holding more than four million USDT. The system blacklisted this address over three months ago.
Neither USDC addresses no those dealing with crypto assets cannot transact them if they get blacklisted by the service. Several advisors informed the press that the group collaborates with numerous agencies around the world. They also refer to law enforcement representatives. If the authorities ask them to blacklist suspicious sources, they instantly do this. The team assists officials in many investigations. Thanks to the freeze feature, providers can help users, as well as exchanges, to recover huge amounts of money and save thousands of dollars that hackers manage to steal from participants.
Precaution Help Avoid Scams and Fraud
Experts admit that law enforcement relies on precautionary actions, too. Officials freeze assets if they suspect the user. Some freezes, as officials state, are precautionary. Sometimes they identify scams or errors and want to protect other participants. If everything proves to be right and correct, then the system unfreezes those addresses.
Unfortunately, the number of attacks is increasing and, in turn, authorities find it necessary to freeze more accounts. This makes participants lose trust in the exchange they rely on. Cryptocurrencies and other assets need protection. Unfortunately, some of the measures that law enforcement representatives employ ruin many people’s trust in the community since what officials do may cause problems to those who never involve in any illegal activities. Hopefully, crypto exchanges will soon be able to find better ways to detect and identify addresses that may cause harm to the community’s participants.
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