Who would have thought, no?
I find it concerning how some people transfer significant amounts of money through Stable Coins and they do not even know their funds can be frozen. But at the end of the day the real Bitcoiners will not even contemplate holding Stable Coins at all ever in their Cryptocurrency timeline. So if you care about being non custodial and having complete control over your assets, please do not use Stable Coins. They are a continuous risk.
Topic: Tether Confirms Extensive Collaboration With DOJ, FBI and Secret Service - page 3. (Read 584 times)
December 19, 2023, 07:11:50 AM
December 19, 2023, 06:31:09 AM
Just a quick reminder for those making use of Tether for large transactions. Just so you know, there is nothing much different between it and using normal fiat, as your funds can be frozen and you can't do anything. The blacklisting mapping gives them access to freeze the funds of anyone whom they think is not worthy of whatever they are holding in that wallet.
Anybody using centralised platforms has decided to give away their privacy, security and custody of their funds. The government can give any reason to freeze your funds and you might do little or nothing to get back your funds. Apart from government intervention in the operations of the activities of these stablecoin, some of these stablecoin issuers are not trustworthy. The claim that these coins are backed by fiat, cryptocurrencies or commodities cannot be verified because their audit reports are doctored or some vital information is kept secret. So users of stablecoins are also risking losing their funds bankruptcy caused by the unhealthy practices of these stablecoin issuers. 
December 19, 2023, 05:26:06 AM
Not only Tether, all other smart contract stable coins are centralized and they can be seized even you hold it in your own wallets.
PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets
Stable coins and banned addresses
Tether banned addresses.
https://dune.com/phabc/usdt---banned-addresses
1237 banned addresses with total value is $849M.
USDC banned addresses.
https://dune.com/phabc/usdc-banned-addresses
211 banned addresses with total value is $75.6M.
PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets
Stable coins and banned addresses
Tether banned addresses.
https://dune.com/phabc/usdt---banned-addresses
1237 banned addresses with total value is $849M.
USDC banned addresses.
https://dune.com/phabc/usdc-banned-addresses
211 banned addresses with total value is $75.6M.
December 18, 2023, 05:07:02 PM
Is this the right place for this?
Another reason people should stop using tether (USDT), which is among the most stable coins we have in the crypto market right now, and it ranks in the top 3 according to coin . marketcap
I just happened to stumble upon this news.
Just a quick reminder for those making use of Tether for large transactions. Just so you know, there is nothing much different between it and using normal fiat, as your funds can be frozen and you can't do anything. The blacklisting mapping gives them access to freeze the funds of anyone whom they think is not worthy of whatever they are holding in that wallet.
just a few weeks ago: Tether Freezes $225M Linked to Human Trafficking Syndicate Amid DOJ Investigatio
But does the Fed even need a reason to freeze anyone's wallet nowadays? To me, they don't; they just make a reason and pronounce anything they want illegal, and that's it.
For security reasons and for asset safety I will advice if we must use stable coins which should consider those ones which we have total control over them and not just the ones that have frozen feature enabled on them.
Made a quick search and I came across this: List of decentralized Stablecoins by d5000 , the Op is very much active but the thread was last updated same year if it’s creation {May 30, 2018}
Another reason people should stop using tether (USDT), which is among the most stable coins we have in the crypto market right now, and it ranks in the top 3 according to coin . marketcap
I just happened to stumble upon this news.
Quote
Tether recently onboarded the United States Secret Service into our platform and is in the process of doing the same with the Federal Bureau of Investigation (FBI).
Reference page: Bitcoin.comnews
Reference page: Bitcoin.comnews
Just a quick reminder for those making use of Tether for large transactions. Just so you know, there is nothing much different between it and using normal fiat, as your funds can be frozen and you can't do anything. The blacklisting mapping gives them access to freeze the funds of anyone whom they think is not worthy of whatever they are holding in that wallet.
just a few weeks ago: Tether Freezes $225M Linked to Human Trafficking Syndicate Amid DOJ Investigatio
But does the Fed even need a reason to freeze anyone's wallet nowadays? To me, they don't; they just make a reason and pronounce anything they want illegal, and that's it.
For security reasons and for asset safety I will advice if we must use stable coins which should consider those ones which we have total control over them and not just the ones that have frozen feature enabled on them.
Made a quick search and I came across this: List of decentralized Stablecoins by d5000 , the Op is very much active but the thread was last updated same year if it’s creation {May 30, 2018}
Jump to: