Tether Adds 28 Wallets from Justin Sun-Linked WhiteBIT into Blacklist

Brian

2023/12/04 14:15

Tether has blacklisted 28 wallets in a single day.

🚨 Tether has blacklisted 28 new wallets which may be a record for a single day. Not only that, these wallets collectively have sent and received billions of dollars worth of $USDT over their lifetimes, with $161 million of that having come from a single exchange:

WhiteBIT. pic.twitter.com/yFYcetslt3
— ChainArgos (@ChainArgos) December 2, 2023

These wallets, collectively dealing in billions of dollars worth of USDT, notably received and sent a total of close to $161 million from WhiteBIT, a crypto exchange linked to Justin Sun.

Justin Sun The Reason For Blacklist?

In a recent blog post on 30 November, stablecoin issuer Circle, associated with USD Coin, denied accusations of illicit financing and ties to Justin Sun by the Campaign for Accountability.

We believe that this may be the reason why these addresses were blocked.

In fact most of these addresses are stUSDT addresses - addresses that Coinlive analysts have previously found suspicious.

When Tether restricts a wallet, it temporarily blocks fund transfers, aiming to curb suspicious activities.

Blacklisted For Good Reason

The total count of banned addresses on Tether's blacklist has now reached 1029.

November saw Tether freeze $225 million in USDT amid a U.S. Department of Justice investigation into an international human trafficking ring in Southeast Asia.

The total USDT now in banned wallets amount to approximately $788 million.

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