Tether Hack: Cryptocurrency Worth $31 Million Stolen

Tether Hack: Cryptocurrency Worth $31 Million Stolen

Tether (USDT), a start-up that offers dollar-backed digital tokens, has reported a theft of nearly $31 million from its platform. The company, which helps exchanges convert fiat currency ​ into tokens and aims to serve as a proxy for the U.S. dollar, said in a statement on its website that $30,950,010-worth of its cryptocurrency USDT was taken from its treasury wallet on Nov. 19 and sent to an unauthorized bitcoin address. Tether described the incident as a “malicious action by an external attacker.” Tether added that the stolen tokens won’t be redeemed but will be flagged to prevent the […]