Economy

Bitcoin (BTC) and Ethereum (ETH) price dives after £30m Tether hack revealed

Bitcoin (BTC) and Ethereum (ETH) price dives after £30m Tether hack revealed

He also noted that Tether makes up a very small part of the cryptocurrency market and that problems with Tether "have zero fundamental impact on the health, strength, and security of the Bitcoin network which has been operating successfully since 2009".

Tether issuances have not been affected by this attack, and all Tether tokens remain fully backed by assets in the Tether reserve. Unlike other digital currencies that fluctuate wildly against dollar, Tether is created to protect investors from that volatility while still enabling them to benefit from the Blockchain-based assets.

Tether has confirmed that it will not redeem any of the stolen tokens, and is in the process of attempting recovery and preventing them from entering the general market.

No bail for suspect in fatal Pennsylvania cop shooting
They tracked down Harper and found him Saturday with $2,500 cash and bags of suspected heroin, according to a criminal complaint. Harper was arrested Sunday night on drug charges after police discovered heroin and $2,500 in cash inside his auto .

Fortunately, Tethers developers were able to counter the cyber hack by quickly writing software to blacklist the address to which the coins were held.

Without panicking or a pause, Tether is committed to proceeding swiftly to ensure that these exchanges don't treat else the stolen funds might be brought back into the economic cryptocurrency.

Tether have announced that they are working on a new version of the Omni Core software client which aims to fix the exploit the hackers used in order to gain access to users wallets and send these tokens. It's hard to say at this point but I'm sure a lot of people will agree that the future of Tether is highly dependant on whether they manage to recover the tokens and how smoothly the reactivation of their back-end wallet service goes. Again, any tokens from the attacker's address will not be redeemed.

Scientists Predict 2018 Will Be a Bad Year for Earthquakes. Here's Why
Bilham said that it is hard to predict where these quakes will take place but most of these may be triggered near the equator. Their prediction is based on the periodic slowdown in Earth's speed of rotation around its axis, which minimizes daylight.

We will provide further updates as they come available, and we appreciate the community's patience, understanding, and support while we work to rectify the situation in the best possible manner to everyone's benefit.

Yesterday, we discovered that funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker. This update is meant to prevent the stolen coins from being a part of the system again by locking them into the hacker's wallet.

One of the partners that uses Tether is crypto exchange Bitfinex, which itself lost 119,756 bitcoin - then worth $72m but valued at over $950m today - in a hack over a year ago.

Justice League underwhelms at box office with $96 million opening
But the mixture of poor execution and bad luck has led to a major disappointment in the movie's opening weekend . Justice League is not a ideal film by any means, but it does offer a good time to those looking for one.

Tether's allegations mark the latest in a long line of reported cryptocurrency hacks.


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