2016 Bitcoin and Altcoin Hacks [Part 8]
This article is part of our complete guide to Bitcoin and altcoin hacks. Here we cover Bitcoin and altcoin security incidents from the year 2016.
In May 2016 an att...
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Opinion: Tether reserves to be tested during the market downturn [January 2018]
When both Bitcoin and altcoins are going down, it usually means cryptos are being traded for fiat currency. Right? Almost. There’s a curious cryptocurrency called Tether (USDT), which supposedly represents one coin for each US Dollar (USD) deposited in accounts in Asia. Right now Tether is one of the few currencies which gained value against […]
Opinion: Will Tether blow up? [Dec 2017]
There is an elephant in the room in the cryptocurrency world and it’s called Tether. The concept of a cryptocurrency that is tied to the world’s reference fiat currency is very interesting indeed. But it has a very expensive requirement: for every unit of this cryptocurrency, there must be an equal unit in the reference […]
Target’s verified Twitter account hacked
Retailer Target’s Twitter account was hacked earlier today and is actively promoting a Bitcoin scam. Worse yet, they have taken control of the Target ad account and have paid for promoted tweets which are spreading quickly, with massive engagement: The tweets take victims to a website (not linked on purpose) which requests them to “confirm” […]
Exchanges adopting $USDT for $USD valuation should demand a Bitfinex audit
When a large exchange, like Bittrex for instance, adopts USD Tether ($USDT) as their US Dollar reference, they must offer investors some guarantee that the adopted benchmark is somewhat accurate. When you select USDT pairs in Bittrex, the user interface does not show USDT but shows U$ instead, clearly suggesting USDT is the official US […]
Concepts In This Page
One of the largest cryptocurrency exchanges. Has close ties to the Tether stablecoin cryptocurrency.
Stablecoin, or stable coins, are cryptocurrencies which are backed 1:1 (or some other ratio) against a reserve currency or bag of currencies. The most popular stablecoins are pegged to the US dollar.
Tether is a stablecoin - a cryptocurrency which is tied 1:1 with the US dollar.
Bo Shen is a cryptocurrency investors who had his cryptocurrency accounts hacked in 2016
Gatecoin is a former cryptocurrency exchange, which shut down in 2019
Technological exploits, legal or not. In the context of cryptocurrencies, hacks are often related to exchange and wallet intrusions.
Monero is a privacy centric cryptocurrency