Tether!!!!!! | Bitcointalksearch.org

Noxmfs

member

Activity: 126

Merit: 10

Quote from: best ever on November 22, 2017, 11:06:31 AM

Yes, I have read about it already. They were hacked and many millions of USTD were stolen from their wallet. I wonder also very much how it will affect the price of this cryptocurrency?

Ah I just read about it. Really really bad stuff hapened in the past 24hrs including some youtubers being hacked too.
Hopefully they don't lose all the momentum & trust they've built because this is literally going to cause a collapse right there.

TheAlchemist

full member

Activity: 265

Merit: 100

As far as I understood the news, they stole money from the resource Tether, not from people. I think Tether will not become poor. I hope that they will quickly find a hole through which hackers have the opportunity to steal money. And everything will be OK.

1melyun

hero member

Activity: 546

Merit: 501

Quote from: ask on November 22, 2017, 11:11:27 AM

As I try to warn people few weeks ago about fake tethers this is very suspicious.
Its nearly same amount stolen tethers and fake tethers.
very suspicious activity on tether and this is affecting on bitcoin prices.
I will stay away from bitcoin and tether for a while.

Not only you many times said by experts that tether not a safety port for trader and will effect all of us. Maybe it is just a beginning for suspicious activity. I hope it will be last one. People should find a better solution and an alternative gateway for usd to keep crypto economy healthy.

ask

legendary

Activity: 1386

Merit: 1004

As I try to warn people few weeks ago about fake tethers this is very suspicious.
Its nearly same amount stolen tethers and fake tethers.
very suspicious activity on tether and this is affecting on bitcoin prices.
I will stay away from bitcoin and tether for a while.

best ever

member

Activity: 266

Merit: 10

Yes, I have read about it already. They were hacked and many millions of USTD were stolen from their wallet. I wonder also very much how it will affect the price of this cryptocurrency?

Jmesser80

member

Activity: 67

Merit: 10

Sounds fishy to me. Being able to replace the lost money just like that doesn’t bode well to me.

dBox.io

member

Activity: 172

Merit: 10

Quote from: Karto on November 21, 2017, 09:49:16 AM

they just printed a big amount of USDT and now a bigger amount has been stolen
very nice

exactly what i tought

Karto

full member

Activity: 280

Merit: 100

they just printed a big amount of USDT and now a bigger amount has been stolen
very nice

twobits

sr. member

Activity: 574

Merit: 250

Quote from: Mett33 on November 21, 2017, 09:12:51 AM

Quote from: Aladdin-Sane-83 on November 21, 2017, 06:58:46 AM

There are man concerning things about the tether. The thing that bugs me most is that new aburd amounts of tether are issued from time to time. Bitfinex, who is kind of the owner of the USDT, already confessed in court that they don't have a backing for the USDT. They guarantee the 1:1 but only back like 2% of the sum in $.
Is this all a big Bitfinex scam fro the beginning? Is Bitfinex going into insolvency soon? What is gonna happen to coins currently parked on Bitfinex?

Tether USDT is the biggest fraud in crypto world even bigger than Bitconnect.

There was stolen 31M USDT and they don't worry about that, because they will produce new 31M. Yes same like BTG of BCH "free money".

they have market cap of 675 M US, do you think that they can cash out all 675 M USDT and convert to US out???

Is much worse then FIAT because if you print FIAT you got inflation with USDT they can "print" as much they want and pump BTC as much they like.

So big problems on Crypto are not ICO, but Tether, Bitconnect and BTC forks.

Theymos already made a new thread that discussed about the tether itself. tether just like a something that similar to the ponzi. But as far understand about tether stand on the name of the USD that brings the more bias to the developer's manipulation. How the developer try to generate the more supply. When in the previous year the supply was around some millions dollar.

1melyun

hero member

Activity: 546

Merit: 501

How can you trust trading on centralized exchange and tether both. Centralized exchange speculating on their platform, even if there are some exchange not speculated, giving the all responsibility to their hands not sense. And tether says we won't return any fiat for tether. People really crazy.

Republicofizmir

sr. member

Activity: 434

Merit: 250

Yes it's true because they made statements
I'll even leave you a news link, i read yesterday in cnbc news

https://www.cnbc.com/2017/11/21/tether-hack-attacker-reportedly-steals-30-million-of-digital-tokens.html

crypto_bit

full member

Activity: 168

Merit: 104

Quote from: Mett33 on November 21, 2017, 09:12:51 AM

they have market cap of 675 M US, do you think that they can cash out all 675 M USDT and convert to US out???

No big deal, banks work like that. It's impossible that every person wants to withdraw his funds at the same time. As long as this assumption holds, everything's alright...

illinest

sr. member

Activity: 454

Merit: 251

Quote from: Temik2704 on November 21, 2017, 06:53:32 AM

30 millions dollars disappeared. At the same time we could see how BTC price dumped for ~500$. The reason is that BTC and Tether (USDT) firmly connected. That's just my opinion.

Of course they are connected. USDT is treated as equivalent to USD liabilities held on Bitfinex, and it's also one side of major market pairs for Poloniex, Bittrex and others. I think traders dumped the news like they would any other news.

But I bet sustained FUD about Bitfinex/Tether would have the opposite effect. It would drive people to exit USDT and Bitfinex USD, driving up the price of bitcoins/altcoins.

Quote from: puremage111 on November 21, 2017, 07:27:08 AM

I am not sure about why it is hacked or so, however they've mentioned that the 31M Tether is tracked and won't be useful. Despite of that, i am having doubt on how the 31M will be replaced/reimburse

Tether is completely centralized. If an account becomes compromised, Tether can just blacklist the addresses associated with the theft and issue new USDT in place of the blacklisted tethers. Since Tether is the only central issuer/redeemer, they have ultimate control over the Tether supply.

GayEddie

full member

Activity: 290

Merit: 100

The tether concept is quite stupid to be honest. You let them print token without anything real to back it up.

And you let them play their ‘hacked’ card right now.

Mett33

full member

Activity: 200

Merit: 101

Quote from: Aladdin-Sane-83 on November 21, 2017, 06:58:46 AM

There are man concerning things about the tether. The thing that bugs me most is that new aburd amounts of tether are issued from time to time. Bitfinex, who is kind of the owner of the USDT, already confessed in court that they don't have a backing for the USDT. They guarantee the 1:1 but only back like 2% of the sum in $.
Is this all a big Bitfinex scam fro the beginning? Is Bitfinex going into insolvency soon? What is gonna happen to coins currently parked on Bitfinex?

Tether USDT is the biggest fraud in crypto world even bigger than Bitconnect.

There was stolen 31M USDT and they don't worry about that, because they will produce new 31M. Yes same like BTG of BCH "free money".

they have market cap of 675 M US, do you think that they can cash out all 675 M USDT and convert to US out???

Is much worse then FIAT because if you print FIAT you got inflation with USDT they can "print" as much they want and pump BTC as much they like.

So big problems on Crypto are not ICO, but Tether, Bitconnect and BTC forks.

puremage111

hero member

Activity: 1568

Merit: 511

Anyone has any guess for the price of how tether will react?

I am not sure about why it is hacked or so, however they've mentioned that the 31M Tether is tracked and won't be useful. Despite of that, i am having doubt on how the 31M will be replaced/reimburse

Aladdin-Sane-83

member

Activity: 66

Merit: 10

There are man concerning things about the tether. The thing that bugs me most is that new aburd amounts of tether are issued from time to time. Bitfinex, who is kind of the owner of the USDT, already confessed in court that they don't have a backing for the USDT. They guarantee the 1:1 but only back like 2% of the sum in $.
Is this all a big Bitfinex scam fro the beginning? Is Bitfinex going into insolvency soon? What is gonna happen to coins currently parked on Bitfinex?

Temik2704

full member

Activity: 378

Merit: 100

DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

30 millions dollars disappeared. At the same time we could see how BTC price dumped for ~500$. The reason is that BTC and Tether (USDT) firmly connected. That's just my opinion.

Arm.strong

newbie

Activity: 8

Merit: 0

It's still risky
There are too many negative messages

Catmony

hero member

Activity: 854

Merit: 500

https://techcrunch.com/2017/11/20/tether-claims-a-hacker-stole-31m/
First bitfinex got hacked few months ago and now tether, looks like they have some relationship. Some even claims owner of both are same which is quite likely after this simultaneous hack in both platforms in very short time.

Topic: Tether!!!!!! (Read 473 times)