Exchanges Suspend USDT Transactions After $30 Million Tether Treasury Wallet Hack

The company behind the controversial Tether altcoin has revealed a few hours ago that it suffered a cyber attack in which the alleged hacker made off with over $30 million worth of USDT. The company also announced some steps to rectify the situation, including one that is effectively a temporary hard fork, leading exchanges to suspend USDT transactions.

The critical announcement issued by the Tether team explains that: “Yesterday, we discovered that funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker. $30,950,010 USDT was removed from the Tether Treasury wallet on November 19, 2017 and sent to an unauthorized bitcoin address.”

As the issuer of the USDT, Tether warns the hacker or anyone that might be working with him that: “we will not redeem any of the stolen tokens, and we are in the process of attempting token recovery to prevent them from entering the broader ecosystem.” […]

Read Full: Exchanges Suspend USDT Transactions After $30 Million Tether Treasury Wallet Hack – Bitcoin News