• News
    • Bitcoin
    • Altcoins
  • Blockchain
  • NFT
  • Metaverse
  • Regulation
  • Learn
  • Market Cap
What's Hot

Aptos [APT] diversifies into NFTs and music: How did its price react

2023-03-25

Exploring 10 AI-based Crypto Projects with Potential for Massive Profits

2023-03-25

Polygon [MATIC] sees uptick in these metrics, what does the future hold

2023-03-25
Facebook Twitter Instagram
Top Coin Spot
  • News
    • Bitcoin
    • Altcoins
  • Blockchain

    Chainlink Labs, PwC Germany Partner for Enterprise Blockchain Adoption

    2023-03-23

    Atlanta Home Tokenized on Ethereum, Nets $214,882 in Under 3 Minutes

    2023-03-23

    Blockchain tech could save municipalities money but adds risks, Moody’s says

    2023-03-22

    Celer Network Releases Brevis to Provide More Opportunities for Smart Contracts and DApps

    2023-03-22

    Blockchain messaging is going to replace Telegram and Discord

    2023-03-22
  • NFT

    A Guide to Gods Unchained

    2023-03-24

    A Conversation with Lady Phe0nix

    2023-03-24

    Do You Believe in (Bitcoin) Magic?

    2023-03-24

    Metaverse Project Proposes On-chain Reputation Scores for NFT Projects

    2023-03-24

    Tarzan Swings Into the Metaverse With Official NFT Drop

    2023-03-24
  • Metaverse

    Metaverse Trading Hits All-Time High

    2023-03-24

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20

    A Guide to Virtual Land Staking in the Metaverse

    2023-03-20

    Nissan Doubles Down on Web3 Innovation

    2023-03-13

    As Fashion Moves into the Metaverse, What Other Industries Could Be Next

    2023-03-13
  • Regulation
  • Learn

    In Search of Legal Personality & Limited Liability

    2023-03-23

    Best NFT Wallets in 2023

    2023-03-21

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17

    How to Short Sell Bitcoin

    2023-03-17

    Are There Any Free Play-to-Earn Crypto Games?

    2023-03-16
  • Market Cap
Top Coin Spot
Home»Regulation»Tether blacklists $31.4M USDT following FTX’s alleged hack, Musk reacts
Regulation

Tether blacklists $31.4M USDT following FTX’s alleged hack, Musk reacts

2022-11-12No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

On the evening of Nov. 11, a number of pockets addresses linked to FTX had been discovered transferring tens of millions of {dollars} value of cryptocurrencies with out an official discover — sparking speculations starting from the graduation of FTX’s chapter proceedings to the involvement of hackers. Inside hours, FTX confirmed on Telegram that the fund transfers had been a part of an ongoing hack.

FTX Telegram admin confirms being hacked. Supply: Telegram

Following FTX’s affirmation on Telegram in regards to the hack, as proven above, Tether proactively blacklisted $31.4 million value of USDT tokens linked to the transactions. As pointed out by blockchain investigator ZachXBT, the blacklisted USDT tokens had been made up of $3.9 million USDT on Avalanche (AVAX) and $27.5 million USDT on Solana (SOL).

FTX meltdown/ransack being tracked in real-time on Twitter

— Elon Musk (@elonmusk) November 12, 2022

Billionaire entrepreneur Elon Musk, who just lately bought Twitter in hopes of unleashing the platform’s full potential, acknowledged Twitter’s contribution in monitoring down the FTX developments in actual time.

Elon Musk takes a dig at FTX CEO Sam Bankman-Fried. Supply: Twitter

By blacklisting the alleged stolen USDT token, Tether disarmed hackers from siphoning the property to a different account or exchanging them for different cryptocurrencies. As a part of the remediation, Tether can burn the blacklisted USDT and reissue equal quantities of the asset to the unique proprietor.

Nevertheless, the hacker additionally stole quite a few different crypto property, together with Ethereum (ETH) Chainlink (LINK) and USDP, which is but to see intervention from respective ecosystems.

See also  Binance, Kazakhstan agrees on 'wait-and-see' approach in regulating DeFi

Associated: FTX-Binance standoff highlights the necessity for clear guidelines — Sen. Lummis

Over the previous few days, main crypto exchanges, together with Binance, OKX, Kucoin and Crypto.com, dedicated to sharing their proof of reserve to regain investor confidence.

Taking the lead on this drive, Bitfinex CTO Paolo Ardoino shared 135 cold and warm pockets addresses revealing Bitfinex’s proof of reserves.

1/
Proof of reserves for @bitfinex
Right here is the listing of the principle Bitfinex walletshttps://t.co/TaS7Vy9qfP

Finex holds:
– 204338.17967717 BTC (amongst high bitcoin holders)
– 2018.5 L-BTC (Liquid)
– ~1000 BTC on LN ⚡️
– 1225600 ETH (amongst high ethereum holders)
…

— Paolo Ardoino (@paoloardoino) November 11, 2022

Whereas the transfer was well-received by buyers, few members of the group identified the dearth of Bitfinex’s legal responsibility figures, which makes the information incomplete for evaluate.

Source link

31.4M alleged blacklists FTXs Hack Musk reacts Tether USDT
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Huobi believes SEC impact is over

2023-03-24

Tether releases Q1 USDT profit estimate amid growing FUD

2023-03-24

SEC issues investor alert over crypto investments

2023-03-24

Congressman Emmer introduces bill providing ‘safe harbor’ to miners, developers and wallets

2023-03-24
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Iconic NFT Collector Gmoney Reveals His Identity

2022-11-29

MoonPay and Julie Pacino Partner on First Film Inspired by NFT-Native Photography

2023-03-21

Ethereum Price Breaks Shackles, Why ETH Could Rally Before Bitcoin

2022-10-24

Subscribe to Updates

Get the latest news and Update from Top Coin Sports about Crypto, Metaverse, NFT and more.

About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest YouTube
Top Insights

Aptos [APT] diversifies into NFTs and music: How did its price react

2023-03-25

Exploring 10 AI-based Crypto Projects with Potential for Massive Profits

2023-03-25

Polygon [MATIC] sees uptick in these metrics, what does the future hold

2023-03-25
Get Informed

Subscribe to Updates

Get the latest news and Update from Top Coin Sports about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Topcoinspots.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$27,631.00-1.90%
  • ethereumEthereum(ETH)$1,757.79-2.06%
  • USDEXUSDEX(USDEX)$1.080.18%
  • tetherTether(USDT)$1.010.18%
  • binancecoinBNB(BNB)$326.100.62%
  • usd-coinUSD Coin(USDC)$1.010.18%
  • rippleXRP(XRP)$0.4490664.07%
  • cardanoCardano(ADA)$0.362468-0.23%
  • dogecoinDogecoin(DOGE)$0.075354-0.13%
  • staked-etherLido Staked Ether(STETH)$1,757.83-1.73%