$BTC
Tether steps in to freeze stolen funds
Nearly $90 million in the crosshairs
This time, it may not be so easy for the hackers to get away 😂
Guys,
the crypto world’s most thrilling drama is back.
Money was stolen,
and the hackers were busy transferring it and trying to flee.
Then Tether went and froze some of the USDT,
cutting off the hackers’ ability to move the funds.
Let’s break down what happened.
The hackers exploited a vulnerability at Ledger distributor Cryptobilis
to tamper with hardware wallets.
Once users received them,
their private keys were exposed,
and their assets were looted.
After getting the funds,
the hackers converted some of them into USDT.
Using on-chain tracking information,
Tether froze the USDT in the associated addresses,
preventing the hackers from moving, mixing, and laundering the stolen funds.
A lot of people think
cryptocurrency is decentralized,
and no one can control anyone else.
But USDT is quite different.
Tether can blacklist specific addresses,
and frozen USDT can’t be transferred normally.
This is obviously good news for the victims,
but don’t celebrate too soon.
A freeze doesn’t mean the funds have been recovered,
let alone that victims will be compensated.
What happens next depends on the investigation
and progress toward returning the funds.
The root cause of this incident wasn’t a problem with Ledger’s firmware itself.
A third-party distributor’s inventory had been tampered with.
When buying a hardware wallet, make sure to verify its source.
Don’t casually buy through resellers or from second-hand sources.
Some people think this is a good thing:
stablecoins can be used to fight hackers.
But others worry
that regulators might make frequent use of this freezing power in the future,
putting everyone’s assets at risk of being frozen at any time.
That’s been USDT’s biggest point of controversy all along.
#tether冻结ledger盗窃案相关usdt
Tether steps in to freeze stolen funds
Nearly $90 million in the crosshairs
This time, it may not be so easy for the hackers to get away 😂
Guys,
the crypto world’s most thrilling drama is back.
Money was stolen,
and the hackers were busy transferring it and trying to flee.
Then Tether went and froze some of the USDT,
cutting off the hackers’ ability to move the funds.
Let’s break down what happened.
The hackers exploited a vulnerability at Ledger distributor Cryptobilis
to tamper with hardware wallets.
Once users received them,
their private keys were exposed,
and their assets were looted.
After getting the funds,
the hackers converted some of them into USDT.
Using on-chain tracking information,
Tether froze the USDT in the associated addresses,
preventing the hackers from moving, mixing, and laundering the stolen funds.
A lot of people think
cryptocurrency is decentralized,
and no one can control anyone else.
But USDT is quite different.
Tether can blacklist specific addresses,
and frozen USDT can’t be transferred normally.
This is obviously good news for the victims,
but don’t celebrate too soon.
A freeze doesn’t mean the funds have been recovered,
let alone that victims will be compensated.
What happens next depends on the investigation
and progress toward returning the funds.
The root cause of this incident wasn’t a problem with Ledger’s firmware itself.
A third-party distributor’s inventory had been tampered with.
When buying a hardware wallet, make sure to verify its source.
Don’t casually buy through resellers or from second-hand sources.
Some people think this is a good thing:
stablecoins can be used to fight hackers.
But others worry
that regulators might make frequent use of this freezing power in the future,
putting everyone’s assets at risk of being frozen at any time.
That’s been USDT’s biggest point of controversy all along.
#tether冻结ledger盗窃案相关usdt