THORChain co-founder says Tether froze then unfroze USDT vaults
Chad Barraford said Tether blacklisted THORChain vault addresses holding about 1.45 million USDT, then unfroze them hours later without explanation.
Key points
- Barraford said roughly 1.45 million USDT across four THORChain wallets was frozen
- He reported trading would resume about two hours after Tether unfroze the addresses
- Conduit Technology sued Tether this week over $2.76 million in frozen USDT
THORChain technical co-founder Chad Barraford has accused Tether of blacklisting the network's USDT vaults without explanation, then unfreezing them hours later, Cointelegraph reports. In a Friday post on X, he said the stablecoin issuer had frozen about a combined 1.45 million USDT held across four THORChain wallets.
Barraford said the network had no communication with Tether before the action and was actively seeking a conversation, adding that he hoped it had been made in error or through a misunderstanding. About two hours after that post, he reported that trading would resume after all the addresses were unfrozen. Cointelegraph said it contacted Tether and THORChain for details but received no immediate response.
The episode follows other disputes over Tether's ability to freeze balances.
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