Odd Frozen Tether #1

Related to this Twitter thread.

For examples of how to look at blacklists and blacklist changes go here.

On 18-Jan-2024 Tether unblacklisted 2 addresses, both of which were originally blacklisted 22-Jun-2023:

  1. 0x5e60ca67be076e1175022fbbf5c03f5ef85811d5

  2. 0x0f9c5c6da70d7fbe606e9ab2dc08082261407636

Notice those are not busy addresses. Each received 1k USDT, both from 0x988e9D68Ac8Ab7BBe0cEeFe9bBDa1a4a000C717D.

That address was funded from a single Binance withdrawal for 259k USDT.

There are 3 other destinations for USDT from that address that were not frozen:

  1. 0x8A5A1Db04b36CFd104d66CFe03beCd45F71DE6E3

  2. 0x32A9b6037596386A0Af31bD28a67B50A1ecBde53

  3. 0x33a0e565e2327814df1533d4fe67de580117904c

Notice that all 3 of those addresses deposit their USDT to eXch. And that those deposits comprise all but 2k of the 259k USDT withdrawn from Binance.

So 99% of the USDT were sent to an exchange before the freeze was put in to effect.

To review the timeline was:

  • 19-Jun-2023: 259k USDT withdrawn from Binance to 0x988e9D68Ac8Ab7BBe0cEeFe9bBDa1a4a000C717D

  • 20-Jun-2023: Those USDT sent to 5 addresses

  • 20-Jun-2023: 3 of those 5 addresses, containing 99% of the funds, deposited to eXch

  • 22-Jun-2023: Remaining 2 addresses, holding ~1% of the funds, frozen by Tether

  • 18-Jan-2024: Those 2 addresses are unfrozen by Tether

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