Tether disables new signups due to building a new platform

Tether is building a new platform and will be phasing out and discontinuing the current wallet services, all old addresses and disabling new signups on the platform
21 December 2017   334

We have reported that on November 19 over $30M were stolen from Tether. Tether team has stated that they have been very cautious about providing updates prematurely regarding the November security breach, but finally the improvement time has come. In the light of past events Tether has decided to build a new platform.

Tether is not the only service which stopped users registration, the new users of Bitfinex exchange now need the “invitation code” to register, which is nearly impossible to receive. Bittrex decided not to bother itself with “invitation codes” and just stopped new users' registration.

At the moment of press, these are main market parameters of Tether:

  • Average price: $1,01
  • Marketcap: $1 176 952 76
  • 24h volume: $2 952 560 000

UpBit to Compensate Possible USDT Losses in USD

South Korean cryptoexchange made an unexpected statement
07 February 2018   1227

South Korean crypto-exchange Upbit promised users to compensate to the full extent their possible losses in the event of the collapse of Tether and USDT. This is reported by Etoday ko.

We are aware of various suspicions about Tether. We compensate the entire amount to customers who have deposits in USDT on our exchange, in case of problems.

UpBit Team

Previously, users have repeatedly expressed doubts that Tether has the necessary amount of deposits in real US dollars to provide all the released tokens USDT.

At the moment of press, only 0.26% of whole Tether volume is being trade at Upbit. 

These are main USDT market parameters:

  • Average price: $1.01
  • Market Cap: $2 232 239 542 
  • 24h Volume: $5 161 760 000 

Few weaks ago, famous economist Dr. Doom accused Tether in recent Bitcoin price dump.