Primitive Ventures founding partner Wan Hui pointed out on her Sina Weibo account that multiple stablecoins had long implanted backdoors for fund freezing in their code. Citing a June tweet, she noted that the USDT (ERC20) code contains two parameters: addBlacklist and destroyBlackFunds; USDC has a blacklist; PAX includes two parameters: lawEnforcementRole (iron fist privilege) and wipeFrozenAddress (frozen address wiping).
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