Tether | Breaking Cybersecurity News | The Hacker News

Again some bad news for cryptocurrency users. Tether, a Santa Monica-based start-up that provides a dollar-backed cryptocurrency tokens, has claimed that its systems have been hacked by an external attacker, who eventually stole around $31 million worth of its tokens. With a market capitalization of $673 million, Tether is the world's first blockchain-enabled platform to allow the traditional currency to be used like digital currency. Tether serves as a proxy for the US dollar, Euro (and soon Japanese yen) that can be sent between exchanges including Bitfinex, Poloniex, Omni, GoCoin and other markets. According to an announcement on the company's official website posted today, the unknown hacker stole the tokens (worth $30,950,010) from the Tether Treasury wallet on November 19 and sent them to an unauthorized Bitcoin address. The stolen tokens will not be redeemed, but the company is in the process of attempting token recovery in order to prevent them from enter...