After thefts from Ledger reseller customers, Tether froze over 20 USDT addresses, locking about $10 million. However, some stolen funds were swapped into USDD, a different stablecoin not controlled by Tether, limiting the freeze's effectiveness. This incident highlights that freeze functions only work within the specific token's ecosystem, leaving balances vulnerable once moved elsewhere. Ledger is investigating the reseller, advising affected customers to secure their wallets with new recovery phrases. The total theft estimates range from $86 million to $93 million, with much of the stolen crypto still visible but inaccessible due to freezing or tracking efforts.
The USDD swap and Tether's freezing of stolen USDT addresses provide context for cryptocurrency market activity. For readers following crypto markets, here is Pluang's snapshot as of Oct 12, 2026 16:41 WIB: out of 50 major cryptocurrencies priced on Pluang, 37 rose and 12 fell today. Notable movers include ALGO at Rp2.319 with a 9.49% increase and a typical hold time of 130 days, EOS at Rp12.649 up 8.13%, and XTZ at Rp5.788 rising 8.11% with 100% buy order activity.
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