The post Tether Freezes Funds Linked to Ledger Exploit! appeared first on Coinpedia Fintech News

Tether has frozen funds linked to a recent Ledger exploit. In a statement, Tether’s Chief Technology Officer, Paolo Ardoino, revealed that the wallet address 0x65…5c2d had been blacklisted just 15 minutes ago. The address holds approximately $44,000 worth of USDT, as well as other assets totaling $412,000 USD. Tether’s swift action to freeze these funds demonstrates its commitment to protecting users and preventing the misuse of its stablecoin. The move comes in response to a recent hack on Ledger’s Ethereum smart contract, which resulted in the theft of over $16 million worth of crypto assets.