Tether Uses Centralized Power to Refund $1 Million in USDT

Tether Uses Centralized Power to Refund $1 Million in USDT

In brief

Tether has helped recover $1 million in lost stablecoins after a mistake sent them to an incorrect address.

Tether is able to perform such recoveries thanks to centralized control of the stablecoin platform.

Centralized control allows Tether and Coinbase-backed USDC to work with law enforcement officials to fight illegal activity.

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Posted by Decrypt
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Decrypt was founded in 2018 with a simple mission: to demystify the decentralized web. They are a site dedicated to the builders and entrepreneurs of Web3. They strive to produce original coverage of the biggest stories, insightful profiles on the industry’s movers and shakers as well as engaging educational content to connect the dots.

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