Tether!!!!!!

[brownie_something]

How true is this, what is your opinion. That Tether saying it was hacked! hmmm, it sounds suspicious to me.

[PeterKh]

How true is this, what is your opinion. That Tether saying it was hacked! hmmm, it sounds suspicious to me.

Suspicious. Exactly my thoughts when I read the news.

[Psynthax]

How true is this, what is your opinion. That Tether saying it was hacked! hmmm, it sounds suspicious to me.

It's suspicious in my mind, My thought that there is a collision or manipulation. Remember developers are keeping the key of the ether itself. As you can see the lost tether than already stated by the developers to be replaced by other new tethers. That means the dev be able to generate tether anytime just like a banker with its paper money. Tether just such as scam right now.

[Catmony]

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.

[Arm.strong]

It's still risky
There are too many negative messages

[Temik2704]

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.

[Aladdin-Sane-83]

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?

[puremage111]

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

[Mett33]

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.

[GayEddie]

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.

[illinest]

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.

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.

[crypto_bit]

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...

[Republicofizmir]

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

[1melyun]

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.

[twobits]

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.

[Karto]

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

[dBox.io]

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

exactly what i tought

[Jmesser80]

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

[best ever]

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?

[ask]

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.