PANews, October 9: According to Chad Barraford, co-founder of THORChain’s technology team, Tether (the issuer of USDT) has blacklisted THORChain’s USDT vaults on the TRON blockchain. In TRON block 86958330, four of THORChain’s six TRON vaults were blacklisted within a single block; these four vaults hold 93% of THORChain’s TRON assets, amounting to approximately 1.45 million USDT being frozen. THORChain was not hacked, but TRON-based swaps on the protocol have been suspended. Barraford stated that no prior communication occurred with Tether, and THORChain is proactively reaching out to them, noting that this action has no precedent in the industry.
Tether Blacklists THORChain's TRON USDT Vaults, Freezing ~1.45M USDT
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Summary
Tether blacklisted four of THORChain's TRON USDT vaults in a single block (TRON block 86958330), freezing approximately $1.45 million in USDT. The move affected 93% of THORChain's TRON assets, halting TRON swaps. No cryptocurrency hack was reported. THORChain co-founder Chad Barraford described the action as uncoordinated and unprecedented. The incident underscores risks in the crypto space, where even a suspected exchange hack can lead to sudden asset freezes.
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