Whether usdt or usdc freeze people accounts often?

External question — Ethereum Stack Exchange Author: Louis Original post: https://ethereum.stackexchange.com/questions/92855 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. Whether usdt or USDC will freeze the accounts often? This happened a lot or?

External answer — Ethereum Stack Exchange Author: clement Original post: https://ethereum.stackexchange.com/a/92859 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. Althought USDT is deployed on the mainnet and transactions are executed in a decentralized way, the administration of the Tether smart contract is entirely centralized (as it is the case for a large amount of projects) and users have to trust the private company behind the stablecoin. Indeed, as you mention, the contract owner has the possibility to freeze the transfer of a specific account using this function : function addBlackList (address _evilUser) public onlyOwner { isBlackListed[_evilUser] = true; AddedBlackList(_evilUser); } Owner can also burn a user's funds with : function destroyBlackFunds (address _blackListedUser) public onlyOwner { require(isBlackListed[_blackListedUser]); uint dirtyFunds = balanceOf(_blackListedUser); balances[_blackListedUser] = 0; _totalSupply -= dirtyFunds; DestroyedBlackFunds(_blackListedUser, dirtyFunds); } Does this happen often? The answer is no, as the company would take a huge reputational risk acting like this. According to this article , Tether freezed 40 accounts between 2017 and 2020 to respect law enforcement. This happened recently with the freeze of the Kucoin hacker account on September 2020. For USDC I believe the answer is the same.

External answer — Ethereum Stack Exchange Author: Richard Horrocks Original post: https://ethereum.stackexchange.com/a/92862 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. Looking at the analytics... There are 256 banned USDT addresses . There is 1 banned USDC address . (Which is probably why USDC hasn't been in the news as much.) Regardless of how often this happens, the fact that it can happen at all should be the main concern* when using centralised stablecoins. Edit: *One of the main concerns. Lack of audits, and questions about how collateralised the reserves are would be others :-)

External answer — Ethereum Stack Exchange Author: Mehdi Rezaei Original post: https://ethereum.stackexchange.com/a/172431 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. Yes, the contracts can freeze an address, but that is different from an exchange account being suspended. USDT and USDC are centrally issued tokens and their contracts maintain blacklist mappings. A blacklist entry can make transfer/transferFrom revert even when the wallet’s native ETH and private key are fine; no amount of gas or a different wallet app bypasses an issuer-level restriction. For a specific address, verify the chain and official token contract, then use the explorer’s Read Contract interface. For USDT, query isBlackListed(address) (the capitalization varies by deployment); for USDC, query isBlacklisted(address). You can also inspect AddedBlackList/RemovedBlackList or the equivalent blacklist events. An ordinary failed transfer may instead be an allowance, gas, RPC, or token-contract issue, so check the revert and contract address before concluding it is a freeze. There is no useful single “freeze frequency” number: freezes are uncommon for ordinary users but routine in sanctions/law-enforcement cases, and indirect exposure can still create practical risk. Check counterparties before accepting large transfers and keep transaction/source-of-funds records. I maintain FreezeRadar; for a free multi-chain view, https://freezeradar.com/scan can be used as a second check, not as a recovery or unfreezing service.