THORChain technical co-founder Chad Barraford accused Tether of temporarily blacklisting four THORChain vault addresses, affecting about 1.45 million USDT in total, according to Cointelegraph’s October 9, 2026 report. The report says Barraford later said the addresses had been unfrozen and trading would resume. The allegation, amount and reported outcome have not been independently verified here through the original post or on-chain records.
What did the THORChain executive allege?
Cointelegraph reported on October 9, 2026, that Barraford said Tether had blacklisted four THORChain vault addresses, temporarily preventing access to approximately 1.45 million USDT across them. This is Barraford’s reported account, not a confirmed explanation or acknowledgment from Tether.
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Cointelegraph reproduced Barraford as saying: “We don’t know why this choice was made and have had no comms with USDT before this action and are actively reaching out to have a conversation.” It also quoted him saying, “We hope that this was made in error / misunderstanding.” These are quotations as reproduced in Cointelegraph’s report, not independently retrieved from the original X post. Cointelegraph’s October 9 report
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The report puts the amount at about 1.45 million USDT across four addresses. It says Barraford later reported that the addresses were unfrozen and trading would resume. The report describes this as happening “hours later” but does not specify an exact duration.
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The original post and address-level blockchain records were not retrieved for independent verification. The reported amount, number of addresses, freeze and restoration should therefore be treated as claims attributed to Barraford through Cointelegraph, rather than independently established chain findings.
Why were the vaults reportedly blacklisted?
No confirmed reason was provided in the report. Barraford said THORChain had not communicated with USDT before the action and was reaching out to discuss it. Cointelegraph reported that it had contacted Tether and THORChain but had not received an immediate response at publication. That status is limited to the time of publication; it does not establish whether either party responded later.
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What does this mean for USDT holders and THORChain users?
The report describes an alleged restriction on four specific vault addresses and a later restoration. It does not establish that USDT transfers on every network were affected, that all THORChain activity stopped, or which specific operations were unavailable at each point. A token issuer’s ability to restrict transfers at its token-contract level is distinct from a decentralized network’s own trading or vault operations; the report does not provide enough technical detail to map the mechanics of this incident.
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How does Tether’s separate 2026 freeze statement relate?
On September 28, 2026, Tether said it had frozen approximately $550 million in assets during 2026 across wallets identified by U.S. authorities as connected to Iran and sanctions networks. That is Tether’s figure for separate actions, not evidence confirming the THORChain allegation or explaining it. Tether’s September 28, 2026 statement
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