DEA Loses $55,000 in Seized Tether to Scammer in Address Poisoning Attack
The United States Drug Enforcement Administration (DEA) lost $55,000 in seized Tether earlier this year due to a scammer's "address poisoning" tactic. The DEA had seized over $500,000 worth of USDT from two Binance accounts suspected of laundering drug money.
Tether: Destroyed 1.2 Billion USDT in the Early Morning for Chain Exchange and Redemption, the Total Supply Has Not Changed
Tether announced on X platform in the early morning that within a few minutes, Tether would destroy 1.2 billion USDT (on Tron) accumulated in the vault wallet on the Waves platform, as part of the previous cycle's chain swap and redemption. The total supply of USDT will not change during this process.On-chain data shows that a few minutes after Tether released the above announcement, Tether's vault had destroyed 1.2 billion USDT on the Tron network at 01:17 Beijing time.
Tether discontinues support for Omni Layer, Kusama and Bitcoin Cash SLP in strategic shift
Tether, the company responsible for the popular stablecoin USDT, has announced a change in its strategic priorities. As a result, it will no longer support the blockchain platforms Omni Layer, Kusama, and Bitcoin Cash SLP. <br>
Tether CTO Paolo Ardoino unveils details of the company's new Bitcoin mining software, Moria
Tether's Chief Technology Officer (CTO) Paolo Ardoino has revealed details about the company's new Bitcoin mining software, Moria. Ardoino announced the name of the revolutionary coordinator module and stated that for Tether's Bitcoin mining software Moria, the coordinator module will be called "Ork", laying the foundation for a deeper understanding of the software's functionality.
Ardoino stated that although there are many cloud-based Bitcoin mining trackers, everything he has seen so far is not truly customizable and lacks real-time, tick-by-tick deep orchestration capabilities. Optimizing output through tick-by-tick data.
Ardoino shared the future roadmap of the software, stating that once the Bitcoin mining part is fully implemented, the software will be extended to coordinate energy production. There are incredible amounts of information available from solar panels, wind turbines, etc.
The architecture of Moria is based on the Holepunch system, designed specifically for scalability and modularity. It can collect data from different types of devices, aggregate this data, and then use advanced technologies such as artificial intelligence prediction models for analysis.
Victim of $166K Crypto Hack Gets Attacker’s USDT Address Blacklisted
A victim of a hack worth 90 Ether (ETH) has worked with police and cyber authorities to get the attacker's Tether (USDT) address blacklisted, potentially allowing them to recover most of their stolen funds. The victim's hot wallet seed phrase was compromised in March, resulting in the theft of Yuga Labs-related NFTs, other crypto, and NFTs from smaller projects.
Tether CTO: Will Launch Mobile App Based on USDT and XAUT Payments
Tether's Chief Technology Officer, Paolo Ardoino, announced on social media that they will launch a mobile application that is entirely based on USDT and XAUT payments to facilitate international B2B, B2C, and C2C purchasing settlements. This solution supports direct payments, escrow, dispute resolution platforms, and will also support the Bitcoin Lightning Network. Currently, "the application is still in the testing phase and will be launched soon."
Tether CTO welcomes PayPal's entrance into stablecoin industry, emphasizes need for competition and regulatory oversight
Paolo Ardoino, the CTO of Tether, has welcomed PayPal's entry into the stablecoin industry, stating that it will encourage competition and drive innovation. He also addressed concerns about Tether's onboarding process, explaining that it requires strict anti-money laundering and know-your-customer procedures to avoid putting users at risk. Despite these measures, Tether has still processed redemptions, redeeming around $325 million worth of assets on August 7th.
Tether's Assets Surge, but Reported Profits Seem to Shrink
Tether Holdings, the stablecoin issuer, reported over $1 billion in "operating" profits for Q2, a 30% increase from the previous quarter. However, the company did not disclose net profit and instead only provided operating profit, leading to apparent profit shrinkage. Tether's definition of operating profit remains unclear, and they did not explain the discrepancy between profit and increased excess reserves of $850 million. Tether's profitability stems from its unique business model, but with rising interest rates, its $80+ billion in reserves could generate substantial passive income.
Tether Becomes 11th Largest Bitcoin Holder in the World
According to insider sources, Tether, the stablecoin issuer, has emerged as the 11th largest holder of Bitcoin globally, with a current holding value of approximately $1.6 billion. While Tether has not officially disclosed its Bitcoin address, research analyst Tom Wain of 21. co claims to have identified a potential Tether address holding around 55,022 Bitcoins, equivalent to $1.6 billion. A direct source familiar with the matter confirmed Tether's position as the 11th largest Bitcoin holder, a ranking also maintained on 21. co's Dune Analytics. Tether declined to comment.
Tether Developers Create New Software for Bitcoin Mining
Tether's development team is close to releasing new JavaScript libraries for managing Bitcoin mining hardware, including popular devices like WhatsMiner, AvalonMiner, and Antminer. The software will be high-quality, polished, and modular, according to Tether CTO Paolo Ardoino. The new developments are based on Holepunch technology and will allow for more streamlined, secure, and cost-efficient interaction between devices in the Bitcoin mining ecosystem. Tether is also working with local energy operators in Uruguay to create a sustainable, green Bitcoin mining ecosystem based on renewable energy sources. Meanwhile, the Bitcoin mining difficulty is set to face its second negative adjustment in a row, dropping by almost 3% on July 26, 2023.
