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THORChain exec says Tether temporarily froze USDT vaults

The THORChain technical co-founder said the freeze and later unfreeze affected a combined 1.45 million USDT across four wallets, with trading resuming about two hours later.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that THORChain technical co-founder Chad Barraford accused Tether of blacklisting THORChain’s USDt, or USDT, vaults without explanation before later unfreezing them.

Barraford said Tether froze THORChain vault addresses and that the action impacted about a combined 1.45 million USDT held across four wallets.

He also said the addresses were unfrozen about two hours later, after which trading would resume.

Cointelegraph added that Barraford said THORChain had no prior communications with USDT before the action and that the network was reaching out to discuss the decision.

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