Hackers Stole $31M in Tokens from Cryptocurrency Company Tether

Cryptocurrency startup Tether has flagged some of its tokens after announcing that hackers have snatched $31 million-worth of tokens from its “treasury wallet,” the company said today.

The funds were taken this past Sunday on November 19th, according to the company.

Tether, which converts fiat currency to tokens for cryptocurrency exchanges, posted a critical announcement on its site today, where it noted that it had “discovered that funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker.”

The company then urged its partner exchanges, or those integrated with the Tether service, to “take immediate action” in order to “prevent further ecosystem disruption.”

Tether is taking its own steps in the meantime, as stated above, including flagging the stolen tokens (a way of tracking them to ensure the hackers cannot spend or trade them) as well as suspending its back-end wallet service.

Meanwhile, cryptocurrency bitcoin has reached yet another high, topping $8,000. The currency is currently worth $8,215.1, as of 9am ET, according to CoinDesk.

Read more at Tether and TechCrunch.

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