Tether has assisted a group of traders from china to recover crypto funds worth $1M transferred to an incorrect address.
On the 8th of September, the traders mistakenly made a transaction to a swerve token address and could not recover it. With hope, they sought for help on twitter and sent an emergency SOS. Fortunately for the group, they got lucky.
The leading Tech Officer at Tether, Paolo Ardoino, replied and asked them to open a support ticket. He stated that the funds would be retrieved if the USDT was stuck in the address and asked them to contact the customer support.
Three days later, on the 11th, Paolo confirmed that the funds have been recovered and transferred back to the rightful owner.
Tether was able to recoup the currency because it has some authority over client’ funds. However, a non-custodial decentralized finance platform would not.
Source: News.bitcoin
