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Attackers raced to convert stolen stablecoins into crypto that issuers could not freeze as industry players like Tether and Circle moved to immobilize billions of dollars in assets.
Tether, Circle and others moved within hours to block billions in stolen crypto, but legal experts question whether smaller victims would get the same protection.
The stablecoin issuer’s US Treasury holdings are comparable to those of major foreign holders, while its Bitcoin reserves were valued at $8.37 billion at the end of September.
Stablecoin issuers, including Tether, Circle, Ripple, and World Liberty Financial, have frozen more than $2.6 billion in digital assets linked to a suspected Binance security breach involving nearly $6 billion. On Oct. 29, Tether CEO Paolo Ardoino said the company had frozen…
USDT is coming home to Bitcoin, offering privacy and Lightning-fast payments. But can Utexo’s bridged version of USD₮ compete with stablecoins on ETH and TRON?
USDT volume on crypto exchange Mercado Bitcoin jumped nearly 800% and bitcoin volume surged 865%. Binance’s USDT/BRL market tripled while the global BTC/USDT pair fell.
Affected retail balances will convert at market rates, with USDC used where suitable and late deposits excluded. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox
CoinDCX confirmed a loss of roughly $16 million USDT three days after its CEO, Sumit Gupta, disputed reports of a new wallet breach, calling them a false alarm. It had acknowledged unspecified operational losses from a failed sweeping process on the afternoon of Oct. 22, so the…
The Mumbai-based exchange says 15.99 million USDT was drained from wallets it retired after last year’s $44 million hack, bringing its combined losses to nearly $60 million—and it’s absorbing the hit.