$31 Million Dollar Worth Of Tether Got Hacked
There was a dip in Bitcoin and Ethereum price because of this news. The Tether crypto currency is pegged with U.S dollar. The hacker took $30,950,010 of the tokens from the Tether Treasury wallet on November 19 and transferred it to a unknown bitcoin address.
Hacking Was Responsible for Dip in Bitcoin Price
At the start of Tuesday according to UTC time bitcoin was traded above $8300 but after that Bitcoin price had a dip of around 6.5% from $8300 to $7760.Now bitcoin price is some what stable around $8186. This announcement was made by company itself and now the company is trying to assure that these tokens will not enter into the main stream by black listing the bitcoin address.
Source : https://coinmarketcap.com/currencies/bitcoin/#charts
These hacking attacks on crypto currencies have always shaken the confidence of people on crypto currency security. As Bitcoin market is still volatile so any act of hacking can affect the bitcoin market. Tether is associated with fiat currency so it make trading very fast and most of the user try to convert their bitcoin into tether when they see any kind of dip in bitcoin price but hacking of Tether will affect the trading.
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