alt Hacker News> About $2.4 billion out of this is already frozen by Circle and Tether. Some of the big ones:
How does freezing crypto work in this context?
Replies
wmf • yesterday at 10:10 PM
Most crypto assets are operated by a smart contract that controls every transfer. So the contract can decide to not perform certain transfers.
➕ show 1 reply
l0ng1nu5 • today at 8:43 AM
It doesn't, the hacker already loaned against it to get eth so they froze saves assets.
The smart contract for those tokens supports freezing. Tether just calls the freeze function on that address.