More Than 30 Million Tether Tokens Stolen by Hackers

November 21, 2017

More Than 30 Million Tether Tokens Stolen by Hackers

The company Tether announced the theft of 30,950,010 tokens USDT by an unknown hacker or a group of hackers on November 19, which is equivalent to the same amount in US dollars.

"$30,950,010 USDT was stolen from the Tether wallet and sent to an unauthorized bitcoin-address. Since Tether is the issuer of USDT, we will not ransom any of the stolen tokens and are currently trying to return them so that they do not fall into a wider ecosystem," the company announced on its website.

The company also published a bitcoin-address to which the stolen tokens were sent, and advised users not to accept transactions from it, since these tokens are tagged and their exchange for US dollars is impossible.

Tether announced that in the near future there will be released a new version of the client Omni Core, which is used in the system, that will allow to "lock" the stolen tokens.

The representatives of Omni Core said that the release of the new version of the software would take place one of these days and then Tether would be able to recover the stolen tokens.

"The backend of tether.io's wallet is temporarily frozen. A thorough investigation of the reasons for the attack is being conducted in order to prevent similar actions in the future," the company reports.

Cryptocurrency exchanges throughout the world, such as Huobi and OKCoin, have suspended operations with USDT until the new software is released.

Tether assures that the attack had no effect on the rest of the USDT tokens, and they are still secured with the company's reserves .

Tether (formerly Realcoin) is a startup that developed a Bitcoin-based cryptocurrency, fully secured by real money. The USDT token is equivalent to one US dollar, due to which its rate is stable. Users get the opportunity to transfer their real money with the help of a blockchain leaving behind traditional ways.

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