Tether, the big racket? $ 23 million blackmail

„Pay me, or else …“ – Tether claims to have received a ransom demand of 500 bitcoins. In the absence of payment, the blackmailer would threaten to disclose documents he describes as „harmful to the Bitcoin ecosystem“. Once again, the USDT issuer finds itself at the center of a thorny case.

The purse or life for Tether

In a series of tweets from Sunday, Immediate Bitcoin reports several attacks on him. On the one hand, false documents containing communications between the directors of Tether and those of Deltec Bank & Trust are said to be in circulation. On the other hand, the company reportedly received a ransom demand of 500 bitcoins , or $ 23 million .

“Today we received a ransom note of 500 BTC to be sent to this address:

bc1qa9f60pved3w3w0p7snpxlnh5t4uj95vxn797a7. The issuer said that if it does not receive the BTCs by tomorrow, it will release documents to the public with the aim of harming the Bitcoin ecosystem. We will not pay. „

Tether statement on Twitter

If the ransom demand is true, the most important question to me is: what leverage does the threat actor have?

Tether and its stablecoin are at the center of many concerns. Despite the out-of-court settlement with New York State, doubts about Tether’s dollar reserves persist. If the threat were to be executed, and the information held is really impactful, it could strongly destabilize the crypto ecosystem which relies heavily on the USDT.