Since November 2017, Tether has frozen USDT stablecoins across 9,856 addresses, locking up a combined $5.17 billion. Of that, only $602 million, thus roughly 11.6% by value, has ever been unfrozen. The remaining $4.57 billion stays frozen.
DailyCoin analyzed the full freeze and unfreeze history to track how frozen assets move through the system over time.
One-Way Door: The Scale of Tether’s Blacklist
The scale of Tether’s blacklist is larger than most realize.