THORChain exec accuses Tether of temporarily freezing USDT vaults

Chad Barraford, technical co-founder of the network, said that the funds were frozen and then unfrozen without explanation.

THORChain technical co-founder Chad Barraford accused stablecoin issuer Tether of blacklisting the network’s USDt (USDT) vaults without explanation, then unfreezing them hours later. 

In a Friday X post, Barraford said that Tether had blacklisted THORChain vault addresses, freezing about a combined 1.45 million USDT in the network’s funds across four wallets. He reported about two hours later than trading would resume after the company unfroze all the addresses.

“We don’t know why this choice was made and have had no comms with USDT before this action and are actively reaching out to have a conversation,” said Barraford before the addresses were unfrozen. “We hope that this was made in error / misunderstanding.”

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