Tether Freezes USDT Tied to Ledger Breach as Losses Near $90M

The freeze is the first concrete containment step, but it only touches on-chain funds that remain identifiable; losses already near $90 million suggest most value likely moved before any intervention. That gap between what can be clawed back and what was taken is the recurring limit of stablecoin-level enforcement in theft cases. The distributor's role is the more uncomfortable thread: a hardware wallet's promise rests on supply-chain integrity, not just device firmware, and whether this was isolated to one distribution channel is the open question.