Tether freezes USDT connected to the Ledger theft case, with losses approaching $900,000.
On October 9, PANews reported that Tether has frozen a large amount of USDT on addresses linked to a theft affecting Ledger users. The freeze was identified by SlowMist's MistTrack, which said on X that the related losses are now nearly 90 million USD. The update gives new visibility into how stablecoin issuer controls can respond when addresses are traced.
Tracking the frozen USDT
MistTrack said the frozen USDT is tied to addresses associated with the Ledger user funds theft. Some affected users have contacted the team for assistance, and the team is following up. The report did not provide further details on the scope of the freeze beyond the addresses mentioned.
Earlier Ledger statement
Before the freeze was reported, Ledger said it was investigating a theft involving users linked to CryptoBillis, a Southeast Asian distributor. The company has not given new figures in the latest report, and the loss estimate remains based on MistTrack's tracking.
Why the freeze matters
The action shows that USDT transfers can be restricted when addresses are identified as part of a theft. For users, the incident underscores the importance of reporting losses early and preserving transaction evidence. For the market, it highlights how quickly stablecoin issuer controls can respond once stolen funds are traced.
Risk Warning
This article is for informational purposes only and does not constitute investment advice. Crypto assets are highly volatile, and prices can move sharply due to regulatory, security, market, or operational events. Any actions you take based on this content are your own responsibility. Please research carefully, assess your risk tolerance, verify information from multiple sources, and make decisions prudently.
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