Tron Controversies and USDT
“USDT exists independently of blockchains that are used solely as transport layers. This allows Tether to operate on multiple blockchains and enables Tether customers to choose from about 15 blockchains, including Bitcoin, Ethereum, Polygon, Solana, Tron, and Tezos. This widespread adoption underscores Tether’s commitment to interoperability and accessibility.
Before supporting a new blockchain, Tether conducts a thorough due diligence process to assess potential risks and security vulnerabilities. Despite these measures, there is always a risk of technical difficulties. Although catastrophic failures are unlikely, Tether’s commitment to user safety requires protecting user assets in any of these scenarios.
To address the risk of a blockchain becoming unresponsive, unreliable, or unusable, Tether has created an official recovery tool that can transfer USDT across blockchains. Users will be able to verify ownership of their addresses on a non-responsive blockchain and a recipient address on another supported blockchain, and Tether will transfer the USDT between them.
Affected users will have the option to initiate the transition process through a user-friendly interface accessible via web or command-line tools. This process involves cryptographically signing a transition request to verify ownership of the Tether tokens. Support is available for this process, including popular browser extension wallets and hardware wallets like Ledger or Trezor.”
