If you ever want to launch your own token, whatever you do, don't put in its name "ETH"! Just don't do it.
Because it seems like tokens with these 3 letters in it are very often hacked. It happened to Ethereum a few times, not it's Tether which reports a strange activity, which resulted in the removal of $31 millions equivalent of funds from its Treasury.
The hack was discovered yesterday, after what analysts called "strange developments" resulting in the issuance of more than $50 millions tokens in the first week of November alone. According to the same source cited above:
A huge uptick in the number of tokens being released – 50 million in the first week of November alone – is now considered the cause of recent increases in Bitcoin (BTC) prices, which now stand at over $8000.
I've never been attracted to this token, because I find the rationale behind it skewed: why would anyone want to peg their entire coinbase to fiat? It's pretty much nonsensical, at least in my tiny little world.
But anyway, if you had or planned to have Tether, it's worth keeping an eye on the developments of this situation.
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