Tether has blacklisted more than $3.9 million in tether on Avalanche and $27.5 million on Solana which was linked to the FTX account drainer.
Tether has outsmarted whoever is moving money around in mysterious ways with FTX crypto wallets and has started selling tokens from different networks.
After news of a hack at FTX, more than $12 million worth of chainlink (LINK) tokens were sold in two separate deals early in the morning in Asia. After slippage, the entity made just under $10 million. Slippage is a term for when a market participant loses money when a trade is executed at a different price than planned. This suggests that the entity was in a hurry to sell funds.
On the Polygon blockchain, activity connected to the account drainer’s wallets showed that about 3 million MATIC tokens were sold for $2.4 million.
The company that makes the stablecoin, seems to have blocked some of the funds tied to the account drainer’s wallets that sold tokens on the Avalanche and Solana networks this morning, as pointed out by the alias ZachXBT on Twitter.
Tether has blacklisted more than $3.9 million USDT on Avalanche and $27.5 million USDT on Solana because they are linked to the FTX account drainer.
CoinDesk checked the code that Tether uses to block these addresses and confirmed that they are on the blacklist.
