Quote from: mk4 on June 28, 2020, 02:47:26 AM

I have been advocating for the non-usage of stablecoins in general(probably besides when you're daytrading) for a while now. A lot of people are so unaware of the risks they're taking when holding most stablecoins.

Topic: PSA: Most Stablecoins Can Be Frozen, Even When in Your Own Wallets https://bitcointalk.org/index.php?topic=5204055

This could be really disturbing for those who are not aware of the fact that these coins can be frozen at anytime.

This literally means that it has backdoor control over the funds that are in your wallet. Meaning they are kind of centralised one and legally can seize your money if they wish to. Due to the fact that stablecoins are backed up with US dollar they are having little legal backbone.

Even articles says that they can wipe out the frozen wallet completely thus diminishing all the proofs you had, like you were holding xyz amount in your stablecoin.

Considering such ability its one of the terrifying fact that one should be very much careful while investing and rather holding in the form of stablecoin.