Tether returned $87 million from incorrect addresses
Stable coin issuer Tether has helped users return $87 million dollars sent to the wrong addresses since its launch in 2014, according to its CTO, Paolo Ardoino.
According to Ardoino, just earlier this week, for example, Tether returned nearly $1.5 million in U.S. dollars on behalf of users. As The Block previously reported, Tether has a recovery mechanism that allows it to blacklist Ethereum and Tron blockchain addresses, freeze funds at those addresses and issue new USDT tokens to affected users.
"Some users make mistakes when sending tokens to DeFi (decentralized finance) projects or trading platforms, which results in sending tokens to smart contracts or addresses that have no features to return funds," Ardoino said.
