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21 April 2021
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Tether (USDT) Denounces Extortion Attempt For 500 BTC

After having closed a cycle in the saga with Bitfinex, Tether (USDT) is back in the news. On this occasion, the company has denounced the extortion attempt by an anonymous agent who demands the payment of 500 BTC in order not to make public some documents related to the company.

Tether (USDT) denounces extortion attempt for 500 BTC

Scams, fraud, and extortion are not events outside the crypto space. This time the victim is the company behind the most important stablecoin on the market: Tether.

During the afternoon of Sunday, February 28, Tether denounced through a thread on the social network Twitter the extortion attempt by an anonymous agent, who claims that he has confidential company documents.

Tether, for its part, states that these are false. The fact does not end there but, on the contrary, the malicious agent demands payment of 500 BTC (approximately 27.5 million dollars at current price) in order not to disclose the information:

A few days ago Tether made the news. The Attorney General of the State of New York, Letitia James, declared the actions of the companies Tether and Bitfinex as illegal, sentenced them to cease operations in their jurisdiction, and imposed a fine of 18.5 million dollars.

In the midst of this event, the company evaluates whether the extortion attempt is specifically directed against Tether.  Finally, Tether calls on the crypto community as a whole to remain calm in the face of this extortion attempt:

And they conclude:

Sadly, cryptocurrency scams and extortions don’t just happen to retail users. Tether’s complaint calls for vigilance against any suspicious actor who wants to violate the user’s security and immediately go to the corresponding authorities.

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