The company behind the controversial Tether altcoin has revealed a few hours ago that it suffered a cyber attack in which the alleged hacker made off with over $30 million worth of USDT. The company also announced some steps to rectify the situation, including one that is effectively a temporary hard fork, leading exchanges to suspend USDT transactions.Where did they steal the money? From something they call a wallet. But they did not pick your pocket, they lied, wallets are on the web where they can steal your coin. They do not steal from the blockchain, they steal from your on line wallet to get access to the chain.
In the old system we called this card not present error, and is costs tens of billions of year. Banks ignore the lapse, just charge consumers. Why is this problem not fixed? Everyone should have the intelligent secure cash card.
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