Tether froze $5.2m USDT from suspected scammers
Each wallet was labeled "USDT Banned Address", and a SlowMist security researcher stated that the funds appeared to be associated with an on-chain criminal gang
Blockchain analytics firm SlowMist revealed that 12 Ethereum addresses with disabled Tether (USDT) holdings were involved in the freeze. Each wallet was labeled "USDT Banned Address", and a SlowMist security researcher stated that the funds appeared to be associated with an on-chain criminal gang.
Phishing is widespread within the crypto sphere, with bad actors imitating genuine platforms or dapps to steal private keys and compromise wallets.
Scammers continue to launch attacks, but security experts noted that users and platforms have developed robust defenses against these scams. According to CertiK, last month marked the lowest amount lost to scams and phishing hacks since 2021. Bad actors could only pilfer $25.7 in April, per reports.
