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About $91.3B in USDT on Tron hinges on a two-key multisig with no delay
The Tron USDT contract can be altered to mint, freeze, or reassign ownership with two signing keys, with no built-in delay or reliable way to reverse changes.
A blockchain security assessment by Hacken found that about half of all circulating USDT, roughly $91.3 billion on the Tron network, is governed by a 2-of-3 multisig wallet that lacks built-in delays, timelocks, or a reversal mechanism.
According to the review, the multisig controls the USDT contract itself rather than user funds, meaning an attacker with two signing keys could mint new tokens, freeze addresses, or reassign ownership across the contract deployment without needing to touch individual wallets.
Hacken said it found no evidence of compromised keys or an ongoing security incident, but warned that reused signing keys can extend administrative risk beyond a single network, potentially affecting deployments across Ethereum, Avalanche, and Celo.
Separately, Bluechip raised Tether’s corporate grade to C from D after a KPMG audit found reserves exceeded liabilities by $6.8 billion, while noting that Bluechip’s USDC rating cannot be treated as a direct technical comparison because its methodology came before Hacken’s cybersecurity factor was introduced.
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