21st November 2017 By Mark Wycislik-Wilson
All eyes may be on the meteoric rise of Bitcoin at the moment, but it's far from being the only cryptocurrency on the block. Startup Tether issued a critical announcement after it was discovered that "malicious action by an external attacker" had led to the theft of nearly $31 million worth of tokens.
Tether is a dollar-pegged cryptocurrency formerly known as Realcoin, and it says that $30,950,010 was stolen from a treasury wallet. The company says it is doing what it can to ensure exchanges do not process these tokens, including temporarily suspending its backend wallet service.
Full Article.
Userlevel 7
Bitcoin is back in the picture, now with this theft it brings to light the problems that occur with this type of currency
Tether claims to have suspended its tether.to back-end wallet service while an investigation is underway, and is providing new builds of Omni Core to the community which will result in a de facto temporary hard fork.
Sr. Threat Research Analyst,@ , had this to say:
“It looks like Tether will not recognize the tokens stolen by the hackers and will ‘hard fork’ to redistribute. Hard forking a currency is a big deal as it always shakes the trust of those using it.”
More info on Tether on InfoSecurity-Magazine.
Sr. Threat Research Analyst,
“It looks like Tether will not recognize the tokens stolen by the hackers and will ‘hard fork’ to redistribute. Hard forking a currency is a big deal as it always shakes the trust of those using it.”
More info on Tether on InfoSecurity-Magazine.
Reply
Login to the community
No account yet? Create an account
Enter your username or e-mail address. We'll send you an e-mail with instructions to reset your password.