TETHER FROZE $10 MILLION OF THE CRYPTOBILIS LEDGER HAUL IN TWO HOURS — THE 203.79 BTC SITS IN TWO ADDRESSES — NOBODY CAN FREEZE IT

Tether froze about $10 million in USDT tied to the CryptoBilis Ledger drain, according to the onchain analytics firm Bitquery. Its timeline has Tether starting to blacklist thief-linked TRON addresses at 12:09 UTC on October 9, 2026, and making its last one at 14:10 UTC, 37 in all. CoinDesk carried the freeze on October 12, 2026, and said it was “confirmed by Bitquery.” Tether had not answered CoinDesk.

Now look at the bitcoin. Bitquery says 111 Bitcoin wallets were emptied in one block at 05:54 UTC on October 9. The two public drain addresses held 203.79 BTC at block 971,107 on October 12, 2026, and neither has spent a single output. Nobody froze those coins, because nobody can. There is no company with a switch on bitcoin. Only the keys move it.

That rule cuts both ways, and this case shows both edges. Bitquery’s own words: “About $10 million in USDT is frozen by Tether, which can later reissue frozen coins.” The switch that caught a thief on October 9 is the same switch that can stop any holder of USDT. Bitcoin has no switch, which is why the 203.79 BTC is gone for the victims the moment someone else held their keys. The device that makes your keys is the whole game. Ledger still has not given a loss total. Bitquery counted $93.2 million and YFarmX $94.5 million, both carried by CoinDesk, and Bitquery’s page, updated October 12, now says $102.0 million.

Buy the signer from the maker, check it before you load a seed, and know that nobody will claw it back for you. At the time of this writing, bitcoin was $82,542.