Tether Blacklists Ethereum Addresses Linked to Multichain Hackers

Stablecoin issuer Tether froze an Ethereum address holding more than $715,000 worth of USDT, according to Etherscan data. According to Etherscan’s tagging and analysis of transactions involving the wallet, the address can be traced back to the hackers who stole $3 million in cryptocurrency on the multichain bridge, Multichain, nearly a month ago. The Multichain hack was caused by a security flaw, which the team behind the project warned users about in January. At the request of law enforcement, three addresses holding over $160 million USDT were frozen in mid-January. Tether, which issues tokens on multiple blockchains, began blacklisting addresses following a breach in 2017 that saw $30 million in USDT stolen, the company said.