Tether faces 500 Bitcoin ransom
Over the weekend, blockchain organization Tether revealed that they were being asked to pay 500 Bitcoin to threat actors who allegedly plan to leak sensitive company information online if ransom demands are not met. The company has stated that it will refuse to pay the $24 million request, which is due on March 1. According to the organization, the wallet address associated with the demands had just $72 in Bitcoin stored in it.
Tether stated that the extortion scheme was merely looking to harm Tether and the crypto community as a whole. The company used the same threat to claim that the documents allegedly circling online are forged. Therefore, the cryptocurrency organization has nothing to pay ransom demands for and believes that the threat actors do not have any valuable documents worth saving from the public eye. The unverified email screenshots appear to be communication between Tether and Deltec, a company based in the Bahamas that Tether has a banking relationship with.
Read More: Tether faces 500 Bitcoin ransom