USDT Issuer Tether Blocks $3M Address Linked to Attack

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Tether, the issuer of the stablecoin USDT, has recently blacklisted an address associated with a MEV bot hack that had approximately $3 million of digital assets.

Earlier in April, a collective of MEV bots used to generate extra income was defrauded of over $25 million as a result of a malicious validator attack.

According to CertiK, an analytics firm, the assailant switched the bots’ addresses in background transactions, thus gaining control of “wrapped” Bitcoin (WBTC) and Ethereum (WETH), as well as USDC, USDT, and DAI stablecoins.

Following this blockage, a few Twitter users questioned Tether’s decentralization. One user wrote, “Money of the future they said… They got mad because of a random MEV error… Immediately blacklisted.” Another individual from the Cryptonary media asked how such wallets are blocked.