Gate News: On March 25, on-chain analyst ZachXBT revealed that a wallet address associated with Iran-based platform Wallex[.]ir has reportedly been jointly frozen by Circle and Tether, raising concerns about stablecoin compliance and fund security. The relevant address is 0x6926408f55c4f322ebe1a3cc7e4fff380c5543df.
On-chain data shows that hours before the freeze, Wallex[.]ir began transferring assets from multiple hot wallets on the Tron and Ethereum networks to the BSC network via cross-chain bridges, suspected of asset restructuring or risk mitigation. However, this process was subsequently interrupted, and approximately $2.49 million remains stationary, linked to the address 0xf945c7566f4204ad286a0c3ff1d8a72183e6ccdd.
This incident highlights the practical influence of stablecoin issuers in on-chain fund management and reflects the potential uncertainties faced by cross-chain transfers under regulatory pressure. The market is closely monitoring subsequent fund movements and the reasons for the freeze to assess their potential impact on regional crypto liquidity and compliance environments.
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