January 27, 2022 Tether recovers $87M in USDT.

Collateralized stablecoin issuer Tether has recovered $87M worth of USDT, its USD-pegged stablecoin, sent to wrong addresses by users. Tether’s recovery mechanism involves the blacklisting of addresses that improperly received USDT, which renders these stablecoins immovable, and the issuance of newly-minted USDT to affected users. Tether charges users a fee equal to 10% of the recovered funds for this service.