Tether Emergency Notice
Image: This is your captain speaking: There is absolutely no cause for alarm. Peanuts image via Pexels.
Tether has issued an emergency notice stating that more than 30 millions of newly generated tethers have been stolen by an unknown malicious hacker.
The Tether hack will need to be reported to law enforcement which was the reason why ChrisJ removed the warrant canaries from his Twitter account - an event that left people wondering whether Bitfinex is under subpoena.
On the notice, the price of some cryptocurrencies dropped sharply (mainly BTC and also IOTA, which is mostly traded at Bitfinex, company related to Tether via Tether’s owning company). The markets have since seen a recovery.
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About the author
Written by KarlVonBahnhof
KarlVonBahnhof also on Reddit, Chris belongs to the crypto trader class of 2013. Located in the Americas most of the time, you're most likely to meet at r/BitcoinMarkets though.
Opinions are author's own.