Wintermute, an algorithmic trading firm in digital assets, accuses NEAR Foundation and Aurora of failing to uphold their agreement involving the conversion of $11 million worth of the now-defunct USN stablecoin to USDT. These tokens originated from the now-defunct FTX exchange and were acquired by Wintermute in exchange for fiat currency with the assurance of a complete conversion.
Coinbase, the American cryptocurrency exchange, has made the decision to delist 80 trading pairs that are not tied to the US dollar (including USDT) in an effort to enhance liquidity on its platform.
Tether, the company behind the USDT stablecoin, has announced the freezing of 32 addresses, totaling $873,000, linked to terrorism and military actions in Israel and Ukraine.
In the last two years, over half of the USDT addresses on the Tron network connected with OTC trading or businesses have shown medium to high vulnerability concerns.
On October 6, 2014, the first-ever USDT transaction took place, marking the beginning of this stablecoin's journey. Since then, USDT has weathered its fair share of FUD (Fear, Uncertainty, Doubt). However, it's worth noting that USDT has also had several instances where it temporarily lost its peg to the US dollar.
Hackers managed to drain 6000 ETH, 3.9 million USDT, 1.1 million USDC, and 900,000 DAI from the company's address. Tongue-in-cheek, one might say Drake was responsible for the audit. UPD: Hacken has disclosed that an initial cyber theft of $20.69 million was executed on the Ethereum network, which was followed by subsequent heist amounting to $25.6 million across the BSC and Polygon networks. The project's team has not yet commented on the breach. The only information available is a Telegram channel update, indicating technical maintenance for the withdrawal of ETH, USDT, and ERC20 tokens.
On Wednesday, U.S. lawmakers introduced a bill that prohibits federal government officials from engaging with Chinese blockchain companies, reflecting the U.S. government’s ongoing concerns regarding Chinese involvement in the cryptocurrency sector.
Starting from October 17th, Uniswap Labs will implement a 0.15% fee on swaps conducted via their web app and wallet. This fee applies to ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD.
According to Israeli intelligence agencies, stablecoins such as USDT, USDC, and USDD on the Tron network have emerged as the important conduit for channeling funds to terrorist organizations like Hamas, ISIS, and Hezbollah.
The head of business operations at Coinbase reported that a year ago, Alameda Research minted USDT worth $39.55 billion or about 47% of the total stablecoin supply.
Security company PeckShield has issued a warning to users about a phishing attack conducted by a scammer who has stolen over $675,000 in the past five days. He exploits USDT token permissions. Users are therefore advised to promptly verify and revoke any suspicious accesses to safeguard their assets.
