ZachXBT: Tether Freezes Address Containing 72 Million USDT, Potentially Linked to Entity Behind Monero Volatility

Odaily Planet Daily News "On-chain detective" ZachXBT posted on his personal channel that on June 11, a TRON address (TA6YHqB2xh5HhfmC7WoLQaWmqq7Vv4zCoQ) received approximately $120.2 million in Tether (USDT). Subsequently, it began transferring over $12 million USDT to a KuCoin deposit address and moving approximately $8 million in funds to several instant exchange platforms.

ZachXBT stated that the entity then created Monero (XMR) orders, causing the XMR price to surge from approximately $330 to $420 within a short period. Additionally, over $8 million in funds from this address were bridged from the TRON network to the Bitcoin and Ethereum networks via NEAR Intents.

ZachXBT claimed that a few minutes ago, Tether blacklisted an address (TBzrPEsStbZAUx2SBhD4oHz8UW3FX9Ak9W) directly associated with the aforementioned address, which holds approximately 72 million USDT. The flow of related funds and the background of the addresses have yet to be further confirmed.