Tether which is a blockchain based token pegged to the US Dollar has allegedly has been victim to a $30 Billion hack. The news was announced in a statement on the Tether website:
Tether issuances have not been affected by this attack, and all Tether tokens remain fully backed by assets in the Tether reserve. The only tokens that will not be redeemed are the ones that were stolen from Tether treasury yesterday. Those tokens will be returned to treasury once the Omni Layer protocol enhancements are in place.
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.
The tokens were taken on the 19th November and funds are being kept in the following address 16tg2RJuEPtZooy18Wxn2me2RhUdC94N7r, Tether have warned people not to accept transactions from this address as tokens have been flagged and will not be redeemable.
This attempt at blacklisting the token though will only work if the majority of nodes download the new omnicore wallet immediately.
This is an interesting development considering all the recent scepticism with Tether, this will be one to watch for sure over the coming days and weeks.
We’ll keep you posted!