Tether blacklist saved shareholders defrauded by bank CEO
When Shan Hanes, the former CEO of Heartland Tri-State Bank, was sentenced to 293 months in prison for his part in an embezzlement scheme that saw him direct over $47 million dollars into a “pig butchering” scheme, it was assumed that the failure of the bank would lead to a “complete loss of equity for investors.” However, thanks to the intervention of Tether and its willingness to blacklist addresses, those investors will receive compensation. An Amended Judgement filed today notes that Hanes was forfeiting his claim to funds held in 0xef2797225aCEF65d583F157bbAf023C290D0e7dB , an Ethereum address that the judgment notes is “held by or under the care or custody of Tether Limited.” Checking this address in the tether token contract allowed Protos to confirm that it has been blacklisted by Tether and can no longer transact using the tether token. CHART: Tether has attracted US government action 19 times Read more: Tether gives FB...