Critical Vulnerability of Tether Found
July 2, 2018
Tokenized dollars USDTether, issued by Tether company, may have a logics bug which allows for customers to conduct transactions without writing assets off accounts.
The cause for this is that when processing a deposit in USDTether a crypto platform may verify the transaction wrong and consider it successful while assets will not actually be written off accounts. Finally, the initiator of the transfer will use gained tokens for trading without losing their own tokens.
Note that this incident was given immediate response by the ОКЕх crypto platform. The exchange spokesmen claimed, they performed full-fledged checks and haven’t found the problem at their platform and said there is no reason for their customers to worry about assets.