Tether blocked transfers from five Ethereum addresses holding about 24.35 million Tether (USDT) on Nov. 9, with the largest wallet accounting for more than half the tokens, on-chain records show.
The largest address held about 13.25 million USDT. The five blacklist events were recorded in Ethereum block 26,379,413 at 2:25 p.m. ET (19:25 UTC), according to the on-chain records. The restrictions prevent the addresses from sending USDT.
MistTrack’s review places transactions involving the five addresses in 2021 and 2023. The firm separately identified counterparties to one of them as linked to phishing and pig-butchering scams. That finding concerns the address’s counterparties and does not establish wrongdoing by any of the five.
Minority staff of the U.S. Senate Permanent Subcommittee on Investigations reported more than $34.6 million in USDT outflows in a separate 2023-24 case involving 39 addresses. The staff report on the earlier outflows said the money left after a June 2023 notice became public, and Tether froze the remaining 34 addresses in March 2024. No connection between that case and the Nov. 9 freeze was established.
