Tether will blacklist THORChain's TRON chain USDT vaults, involving approximately 1450000 units USDT
BIBIBI
AT A GLANCE
According to Chad Barraford, Tether froze THORChain approximately 1450000 units, and USDT，TRON redemptions have been suspended.
Article
Tether will blacklist THORChain's TRON chain USDT vaults, involving approximately 1450000 units USDT
PANews October 9 news, according to THORChain technical co-founder Chad Barraford, Tether (USDT issuer) has blacklisted THORChain on the TRON blockchain USDT vaults. In TRON block 86958330,THORChain 6 TRON vaults, 4 were blacklisted within a single block, and these 4 vaults held TRON of its assets, 93%involving approximately 1450000 units of USDT that were frozen.THORChain was not hacked, but TRON redemptions on the protocol have been suspended. Barraford said there had been no prior communication with Tether, that he was proactively contacting the company, and that this move had no precedent in the industry.
According to THORChain technical co-founder Chad Barraford, Tether has blacklisted THORChain on the TRON blockchain's USDT vaults.
02
In TRON block 86958330,THORChain of the 6 vaults,TRON vaults had 4 been blacklisted.
03
These 4 vaults held THORChain of TRON assets, 93%involving approximately 1450000 units of USDT that were frozen.
04
THORChain was not hacked, but TRON redemptions on the protocol have been suspended.
05
Barraford said there had been no prior communication with Tether, that he was proactively contacting the company, and that this move had no precedent in the industry.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
“Blacklisting” means that USDT in the relevant vault addresses are subject to restrictions imposed by the issuer. This incident involved THORChain of 4 vaults, so approximately TRON 1450000 units were frozen, and USDT redemptions on the protocol were also suspended. The original text explicitly states that TRON was not hacked.THORChain
Why it matters to readers
The incident directly restricted the use of THORChain related TRON vaults and caused the protocol to suspend USDT redemptions. The original text does not state that TRON overall redemptions or USDT on other networks USDT were affected.
If you are using THORChain to conduct TRON related redemptions, pay attention to the suspension status and subsequent announcements; this does not mean that the original text has confirmed that the entire USDT system is experiencing problems.
Risks and unknowns
The relevant claims came from PANews' account of Chad Barraford's statements; the original text did not provide an official response from Tether.
The reason Tether blacklisted these vaults has not been disclosed.
Approximately 1450000 units USDT will be handled, and whether the restrictions will be lifted remains unclear.
TRON The original text does not state when redemptions will resume or whether other vaults or blockchains will be affected.
“No precedent in the industry” is Barraford's characterization; the original text provides no independent corroboration.
Related Developments
Loading event timeline…
Related concepts
USDT
Cryptocurrency assets held by the example wallet mentioned in the text.
