Tether and Circle Freeze $2.49M Linked to Iranian Exchange Wallex
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Tether and Circle blacklisted an Ethereum hot wallet tied to Iranian exchange Wallex and froze stablecoins mid-transfer on March 25; the affected address held about $117,000 in USDT/USDC and related tokens, and roughly $2.49M is now dormant on BNB Smart Chain (BSC). Wallex was bridging assets from Ethereum and Tron into BSC; the incident underscores custodial and cross‑chain operational/security risk for CEXes and stablecoin liquidity, with potential short‑term DeFi/DEX counterparties and market liquidity impacts.
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- Tether and Circle froze Wallex’s stablecoins mid-transfer after blacklisting its hot wallet.
- Wallex was bridging assets from Ethereum and Tron to BSC.
- The freeze has caused about $2.49 million to sit dormant on BNB Smart Chain.
Leading stablecoin issuers Tether and Cycle have reportedly blacklisted an Ethereum hot wallet belonging to Iranian crypto exchange Wallex. The issuers simultaneously locked stablecoins while the platform was actively moving assets across chains.
As flagged by blockchain investigator ZachXBT on March 25, the account freeze affected a wallet address that held roughly $117,000 in Tether (USDT), USD Coin (USDC), and other smaller cryptocurrencies.
Wallex Funds Frozen During Cross-Chain Transfers
According to reports, Wallex was consolidating digital assets from multiple hot wallets on Tron and Ethereum into BNB Smart Chain (BSC) using s…
Read The Full Article Tether and Circle Freeze $2.49M Linked to Iranian Exchange Wallex On Coin Edition.
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Coins
$ 1.79K
+2.89%
$ 0.330
-0.50%
$ 0.99929
+0.01%
$ 574.47
+0.79%
$ 0.99978
0%
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In This News
Coins
$ 1.79K
+2.89%$ 0.330
-0.50%$ 0.99929
+0.01%$ 574.47
+0.79%$ 0.99978
0%Predictions Markets
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