Tether Freezes Funds Linked to Ledger Exploit!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Dec 14, 2023 21:40

Tether has frozen funds linked to a recent Ledger exploit. In a statement, Tether’s Chief Technology Officer, Paolo Ardoino, revealed that the wallet address 0x65…5c2d had been blacklisted just 15 minutes ago. The address holds approximately $44,000 worth of USDT, as well as other assets totaling $412,000 USD. Tether’s swift action to freeze these funds demonstrates its commitment to protecting users and preventing the misuse of its stablecoin. The move comes in response to a recent hack on Ledger’s Ethereum smart contract, which resulted in the theft of over $16 million worth of crypto assets.