Hacked!
Tether, a widely-used, USD-pegged token, is claiming $30 million worth of its tokens have been stolen, triggering a temporary break in Bitcoin’s latest price rally!
After the theft, Tether put out an announcement, holding an anonymous attacker responsible for the incident.
The Tether token is a widely-used fiat substitute for USD on many cryptocurrency exchanges, such as Poloniex and Bittrex, enabling the ease of transferring dollar value from different exchanges that only list cryptocurrencies.
Tether is popular amongst all types of crypto users, as it shields a user’s net worth against the volatility of the cryptocurrencies, keeping it pegged to USD.
Most popular exchanges do not have the option of deposits or withdrawals using fiat currencies, only trading with digital currencies.
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