For security reasons, we have removed all stablecoin payment options from SWAPD. This was prompted as a security measure as our USDC address was blacklisted.
Until further notice, the only available payment methods are:
Bank wire / credit card via Trustap
BTC
ETH
Solana
Why this change?
Circle.com, the company managing USDC, has blacklisted one of our wallets, effectively freezing our funds.
Based on our research, recovering these funds may be extremely difficult without legal action. As a precaution, we are also removing USDT support to prevent similar risks, even though our USDT wallets remain unaffected at this time.
The most likely cause is exposure to illicit or flagged funds sent to our wallet. To protect the platform and our users, we are taking a conservative approach.
Important takeaway
This situation highlights a critical risk: stablecoins can be frozen at the blockchain level by their issuers, regardless of whether funds are held on a hardware wallet or not.
We sincerely apologize for the disruption. This is a serious situation, and we are acting in the best interest of platform security and long term stability.
So far, our USDT assets are OK. But who knows, we are hoping for the best and expecting the worst. For the foreseeable future, everyone will have to get used to coins that cannot be frozen, and that is BTC, ETH, and Solana.
