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$31 Million In Tokens Stolen From Dollar-Pegged Cryptocurrency Tether
Mark Wilson shares a report from BetaNews: All eyes may be on the meteoric rise of Bitcoin at the moment, but it's far from being the only cryptocurrency on the block. Startup Tether issued a critical announcement after it was discovered that "malicious action by an external attacker" had led to the theft of nearly $31 million worth of tokens. Tether is a dollar-pegged cryptocurrency formerly known as Realcoin, and it says that $30,950,010 was stolen from a treasury wallet. The company says it is doing what it can to ensure exchanges do not process these tokens, including temporarily suspending its backend wallet service. Tether knows the address used by the attacker to make the theft, but is not aware of either who the attacker is, or how the attack took place. The company is releasing a new version of its Omni Core software client in what it says is "effectively a temporary hard fork to the Omni Layer."
That's nothing. I'm working on a new cryptocurrency backed by The US Dollar. Specifically, the one in my sock drawer. If anyone can manage to corner the market on DollarCoin, they can trade it straight across for The US Dollar. That's value you can take to the bank.
Ah yes, Bitcoin has had no breaches, fraud, or security issues in its 9-year lifetime. The perfect currency. Finally.