Tether Blacklists Ethereum Address Linked to Multichain Hack
- The address traces back to hackers who stole $3 million in cryptocurrency on the cross-chain bridge Multichain nearly a month ago, according to Etherscan's labeling of transactions involving the wallet as well as a CoinDesk analysis.
- Whoever controls the address will not be able to move funds so long as they are frozen.
- The hack on Multichain was made possible by a security vulnerability, which the team behind the project warned users about in January.
- Tether did not immediately respond to a request for comment
- Three addresses with over $160 million in USDT were frozen in mid-January at the request of law enforcement.
- Tether, which issues tokens on several blockchains, began blacklisting addresses following a 2017 breach in which the firm said $30 million of USDT was stolen.
UPDATE (Feb. 11, 18:56 UTC): Adds link to first bullet point and attribution to second.
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Helene is a U.S. markets reporter at CoinDesk, covering US economics, stablecoins, and Wall Street. She is a recent graduate of New York University's business and economic reporting program.
