$163M sent to already-blacklisted USDT/USDC wallets in 2026 — full on-chain analysis

We analyzed every USDT and USDC blacklist event on TRON and Ethereum in 2026 and found that **$163M was sent to wallets that were already frozen** by Tether or Circle. That money is permanently lost.

Key findings:

  \- 847 transactions hit known blacklisted addresses after the ban was executed
  \- TRON accounts for \~80% of lost funds
  \- Most losses happen within 48 hours after a ban — before word gets around
  \- OTC desks and P2P traders are hit hardest

The data comes from on-chain monitoring of AddedBlackList/DestroyedBlackFunds events on both networks. Happy to answer questions about methodology.