BroadChain, April 26, 00:04, according to NewsBTC, cryptocurrency commentator Star pointed out that decentralization is a myth, as networks and companies can freeze funds. He mentioned that Tether executed the largest freeze in history on the TRON network, involving $344 million USDT, coordinated with the US OFAC and law enforcement, directly executed through the USDT smart contract, with funds visible but unusable. Star explained that Tether has administrative control over the USDT contract, enabling it to blacklist addresses, instantly freeze balances, and permanently destroy funds.
Tether confirmed the freeze, stating it supports the US government in freezing $344 million USDT on two addresses on the TRON network, which are linked to Iran. Iran, previously concerned about asset seizure, chose Bitcoin over stablecoins for paying tolls in the Strait of Hormuz, further highlighting the decentralization myth. Star noted that the Tether freeze occurred days after TRON founder Justin Sun claimed TRON is the "most decentralized blockchain," and Sun has yet to comment.
Additionally, the Arbitrum Security Council urgently froze 30,766 ETH linked to the Kelp DAO attacker, who stole approximately $292 million in staked ETH from the Kelp DAO bridge last week. This move by Arbitrum sparked controversy: commentator Pledditor pointed out that Arbitrum, often praised by Vitalik Buterin as the most decentralized Layer-2, froze funds; while Helius CEO Mert praised it, arguing that having control but refusing to use it to appease attackers would be a "worse and dishonorable outcome."