Reddit user found vulnerability in Tether

The connection between Tether breaking and earlier hacking is foun
22 November 2017   1182

Reddit user SpeedflyChris published the results of his cryptoramination from the blockchain. He has found that the Tether’s hack is very similar to Bitstamp’s hack in 2015 year. Then was lost 19000 BT.

The user considers that the Tether vulnerability appears’ source is connected with the wallet used to steal from Bitstamp. This wallet was used to make 2 transactions with 0.01 BTC for each to the address.

SpeedflyChris wrote that this wallet made two transactions, the first is fairly innocuous and illustrated it by link.

Then it removed $30,950,010 USDT from the Tether and sent it to final bitcoin address. This transactions was structured like an additional security layer and this allowed hackers to get tokens without any problem.

Also SpeedflyChris thinks that with this wallet was stolen 12000 BTC from Huobi in 2015 year. Then was used exactly the same scheme with microtransactions which was used with Bitstamp and Tether.


Bitfinex Won't Provide All Docs, Which Attorney Require

Bitfinex believes that the decision of the judge is "another victory in the ongoing defence of our businesses against the New York Attorney General"
23 May 2019   195

The judge of the Supreme Court of the State of New York, Joel Cohen, satisfied the demand of the lawyers of Bitfinex and Tether Limited, allowing them to submit only those documents that the State Office of Public Attorney has the right to demand within its jurisdiction.

In particular, the defendants once again stated that the jurisdiction of the State Office of Public Attorney does not apply to companies, since they do not operate in New York, and the so-called Martin Law does not regulate their business at all. In addition, this legislation may not apply to companies registered in another country.

This order is another victory in the ongoing defence of our businesses against the New York Attorney General’s overreach, and it comes on the heels of Justice Cohen’s ruling last week granting our motion to significantly narrow the injunction against our businesses obtained by the Attorney General. We look forward to continuing to challenge the New York Attorney General’s unmeritorious claims, and we will continue to vigorously protect our customers and assert our rights against those making false and unsupported claims against us.

Bitfinex Team

The next meeting in the high-profile case is scheduled for June 29.

Bitfinex promised users to continue the fight against those who make "false and unfounded statements" to the company.