Tether Accused of Freezing THORChain USDT Without Explanation
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By: Turner Wright, Staff Writer; Edited by Sam Bourgi, Staff Writer
THORChain dev accuses Tether of temporarily freezing USDT vaults
Latest News | Published: Oct 9, 2026
Chad Barraford, technical co-founder of THORChain, alleged that Tether blacklisted and then temporarily froze USDT (USDT) vaults without explanation. He reported that approximately 1.45 million USDT were frozen across four wallets. After about two hours, Tether reportedly unfroze the addresses, with Barraford expressing hope that the action was a mistake.
Cointelegraph reached out to both Tether and THORChain for comment but did not receive an immediate response.
This incident follows similar lawsuits against Tether, including one from Conduit Technology alleging freezing of $2.76 million in USDt related to a Brazilian investigation, and another from two Thai nationals claiming $42.4 million was frozen following an "informal request" from US Homeland Security Investigations.