14.7 million swapped into USDD, 20 addresses frozen: what to check with your stablecoin

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.After the thefts among Ledger buyers, Tether has frozen more than 20 addresses and locked up around $10 million. Because part of the loot was swapped into USDD, the case shows exactly how far a stablecoin's freeze function reaches.After the wallet thefts among customers of a Ledger reseller, the stablecoin issuer Tether responded and froze USDT addresses. The freeze only works in part: some of the loot was swapped into the stablecoin USDD, and Tether's reach does not extend there. The episode shows briefly what a freeze function achieves in stablecoins and where it ends. For your own balance this is no side issue, because the question of who can stop your token in an emergency also decides who can stop it when you are the one affected. A stablecoin is a token whose price is pegged to a currency, usually the US dollar. It is issued by a company that manages the backing and sets the rules of the token. That is precisely where the freeze option at issue here comes from. Tether free...