Tether Hack: Cryptocurrency Worth $31 Million Stolen

Bitcoin Falls After $31 Million Theft of Cryptocurrency Tether

"A thorough investigation on the cause of the attack is being undertaken to prevent similar actions in the future", Tether wrote. "Tether integrators must take immediate action ... to prevent further ecosystem disruption".

The Reddit user explains that the transactions were perhaps structured as an additional layer of security to make sure the wallet can receive Tether's hacked tokens without any issues. If you receive any USDT tokens from the above address, or from any downstream address that receives these tokens, do not accept them, as they have been flagged and will not be redeemable by Tether for Dollars.

We are providing new builds of Omni Core to the community.

The stolen funds have been moved it to 16tg2RJuEPtZooy18Wxn2me2RhUdC94N7r address. We strongly urge all Tether integrators to install this software immediately to prevent the coins from entering the ecosystem. As mentioned above, the company has also rolled out an update to Omni Core, its software for partners.




The amount was taken from the Tether Treasury wallet on November 19 and sent to an unauthorized bitcoin address, according to an announcement on the company's website posted on Tuesday.

Tether's cryptocurrency, the USDT, is pegged to the US dollar. "The only tokens that will not be redeemed are the ones that were stolen from Tether treasury yesterday". Eventually, the sum of these funds came to reside in the wallet address implicated in the company's official announcement.

According to SpeedflyChris, the source of the vulnerability appears to be connected with the wallet used to steal 19000BTC from Bitstamp three years ago. So, it may be possible for Localbitcoins to access logs from 2015 that are related to the wallet addresses and thus identify the hacker.

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