by Oscar Williams-Grut
NOV 21, 2017
Tether, which created a cryptocurrency called USDT that is pegged to the dollar, said in a blog post on Tuesday that “funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker.”
The US company said $30,950,010 was taken Sunday.
“As Tether is the issuer of the USDT managed asset, we will not redeem any of the stolen tokens, and we are in the process of attempting token recovery to prevent them from entering the broader ecosystem,” Tether said.
Tether is down 0.3% against the dollar on the back of the news, according to CoinMarketCap.com.
The theft appears to have shaken wider confidence in crypto markets. Bitcoin was down almost 1% against the dollar at 7.45 a.m. BST (2.45 a.m. ET):