ChainCatcher News: Former Heartland Tri-State Bank CEO Shan Hanes has been sentenced to 293 months in prison for embezzling 47 million dollars in a "pig butchering" scheme.

The ruling stated that Hanes forfeited ownership of funds in an Ethereum address managed by Tether Limited. Tether has blacklisted this address and frozen its trading permissions to protect investors' rights.

Judge John W. Broomes confirmed that all shareholders will receive full compensation. Meanwhile, the Federal Deposit Insurance Corporation (FDIC) also provided full protection to the bank's depositors.