Tether and Circle simultaneously blacklisted an Ethereum hot wallet belonging to Iranian crypto exchange Wallex, locking stablecoins while the platform was actively moving assets across chains. Blockchain investigator ZachXBT flagged the incident on March 25. The freeze hit address 0x6926…43df, which held roughly $117,000 in Tether (USDT), USD Coin (USDC), and smaller tokens at the time of the blacklist. Wallex Consolidation Triggered the Freeze Hours before the blacklist, Wallex reportedly began consolidating crypto from multiple hot wallets on Tron and Ethereum into BNB Smart Chain (BSC) using several cross-chain bridges