$1.45M in USDT Briefly Frozen on THORChain Before Tether Reverses Course
Photo: TheCoinrise
The brief freeze halted swaps on the cross-chain network, renewing debate over how decentralized such platforms really are. Tether froze about $1.45 million worth of USDT held in TRON-based vaults connected to THORChain on October 9, according to multiple reports. The freeze disrupted swap activity on the network before Tether reversed the action and released the funds later the same day. THORChain operates as a cross-chain decentralized exchange, allowing users to swap native assets across different blockchains without relying on wrapped tokens or centralized intermediaries. Its vaults hold liquidity across multiple chains, including TRON, to facilitate these swaps.
Also reported by Crypto News Flash.
Source: TheCoinrise
