Tether Burns Blacklisted USDT and Reissues Equal Amount to US Government Address
- —destroyBlackFunds is callable only by the contract owner and cannot be reversed
- —DOJ burned $9.02 million USDT from three wallets and moved the same amount to the government
- —The DOJ's total forfeiture claim was about $23 million in USDT and USDC
- —Circle froze the related USDC and sent the dollar equivalent to a government bank account
Why it matters: The burn-and-reissue mechanism shows Tether can not only freeze but also seize USDT at the request of authorities.
Source: TokenPost