Stabelcoin issuer Tether has blacklisted an Ethereum address said to be involved in a $3-million hacking scheme that targeted Multichain users.
USDT is down 0.01%, while ETH is down 2.41%.
The address said to have over $715,000 worth of USDT has been frozen, with the owner of the account blocked from moving funds as long as the blacklist remains in place.
The wallet address is said to be involved with hackers who amassed $3 million worth of cryptocurrency from Multichain users nearly a month ago, based on data from block explorer site Etherscan.
The Multichain hack was found to be made through security vulnerabilities, which was already flagged by the team behind the project back in January. Tether has yet to comment on the matter.
Tether started to blacklist addresses after an incident involving $30-million worth of USDT in 2017.