Tether's contract-level controls block $3.29 million in Rhea Finance exploit funds
Hackers are unable to liquidate or transfer $3.29 million in USDT stolen during the Rhea Finance exploit. Tether CEO Paolo Ardoino confirmed the company froze the funds after on-chain analyst ZachXBT issued an alert identifying the compromised wallets. The freeze was executed through Tether's contract-level controls, which block the transfer of specific tokens. This mechanism prohibits the attackers from moving or laundering the funds via bridges or decentralized exchanges. The Rhea Finance incident involved the unauthorized withdrawal of funds, which triggered the on-chain probe and subsequent intervention.
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