H/t reader squodgy:
“Professional criminal hackers will always find a way to steal.”
* * *
It starts with nightmarish messages like this:
Yesterday, we discovered that funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker. Tether integrators must take immediate action, as discussed below, to prevent further ecosystem disruption.
Disappeared: $31 million in tether tokens. This was reported Monday night by Tether, the company behind the cryptocurrency “tether,” with a market capitalization of $673 million, according to CoinMarketCap. The value of tether, which is “tethered” to the US dollar, continued to hover around $1.
But bitcoin plunged 5% and then recovered. Tether is used is used as a medium to transfer cryptocurrencies to other exchanges in other countries without using the dollar and without using banks.