LBank Disputes Report of $1 Million USDT Account Block
LBank says it does not freeze accounts merely for trading profits as a reported $1 million USDT dispute draws scrutiny from ZachXBT.
LBank says it does not freeze accounts merely for trading profits as a reported $1 million USDT dispute draws scrutiny from ZachXBT. Tether (USDT) is trading at $0.9991. This is an original TLT brief based on reporting by Crypto Economy, with live market data added, as of Wed, 11 Nov 2026 01:15:03 UTC.
The dispute raises questions about how exchanges handle profitable accounts and large balances, with the trader’s funds reportedly inaccessible during an exchange review.
- Trader reported roughly $1 million USDT was blocked after futures profits.
- LBank denies restricting accounts simply because they generated trading gains.
- LBank says the account is undergoing a review.
- USDT remained near $1 while the broader crypto market declined.
- Tether CEO puts USDT user count at 730 million
- LBank challenges trader’s account-freeze allegation
- LBank Disputes Report of $1 Million USDT Account Block — this brief
Crypto Economy reports that a South Korean trader said approximately $1 million in USDT had been blocked after the account recorded profits through futures trading. The report frames the case as a dispute over whether the exchange had restricted an account because of its trading results.
LBank publicly denied restricting accounts for the purpose of generating profits. According to Crypto Economy, the exchange also said the user’s account was under review, although the summary does not specify which party initiated that review or the exact status of the reported $1 million balance.
On-chain researcher ZachXBT entered the public debate after LBank’s response and related promotional material were circulated. The supplied coverage does not provide the substance of ZachXBT’s intervention or any further resolution between the trader and the exchange.
Live market data show 
Tether trading at $0.999135, up 0.01% over 24 hours and unchanged over seven days. DeFiLlama lists USDT’s circulating supply at $175.78 billion, while the token’s market capitalization is $175.8 billion. The broader crypto market was down, with total capitalization at $2.51 trillion, 
Bitcoin falling 2.34% over 24 hours, and the Fear & Greed index at 29, indicating fear. The immediate issue to watch is the outcome of LBank’s account review and any additional public statements by the involved parties.
Since this brief published about 2 hours ago, Tether (USDT) has moved from $0.9991 to $0.9991 — -0.00%.
The chart plots USDT's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDT ≈ ₦1,388.08 (about $0.9991), up 0.0% over 24 hours. The naira itself trades about 2.9% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 11, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
LBank Disputes Report of $1 Million USDT Account Block — questions & answers
How much USDT did the trader report blocked?
The trader reported that approximately $1 million in USDT had been blocked following profits recorded through futures trading.
Why did LBank say the account was under review?
LBank said it does not restrict accounts simply for generating trading profits and described the account as undergoing a review. The supplied coverage does not explain the review’s scope.
How is USDT trading amid the broader decline?
USDT was priced at $0.999135, up 0.01% over 24 hours and flat over seven days, while Bitcoin fell 2.34% and the overall market remained broadly lower.
How much is 1 Tether worth in naira today?
About ₦1,388.08 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $0.9991. The naira price moves with both USDT's US-dollar price and the USDT/NGN rate; use our Tether in naira page for any amount.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Crypto Economy. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.