Tether Confirmed Its Website Was Targeted In DDoS Attack: Report

Tether confirms its website was targeted in a DDOS attack and turned on its “Under attack mode” after receiving a 400,000% increase in requests so let's read more today in our latest Tether news. CTO Paolo Ardoino and Tether confirmed its website was attacked in a DDoS attack and the number of requests for the.

Timeline of Tether

The most valuable stablecoin, USDT, has been the target of a distributed denial of service (DDOS) attack. This is according to a tweet from Paolo Ardoino, Tether's chief technical officer (CTO). The company has reportedly been assaulted before, according to the tweet from June 18.  “They tried it once,” said Ardoino. According to the Tether …

Holders of USDT were sent into a frenzy yesterday after Tether's Chief Technical Officer Paolo Ardoino confirmed the incidence of a DDoS attack. Simply put, a DDoS attack happens when a server or a network is flooded with requests to disrupt the server's regular traffic.

Tether CTO, Paolo Ardoino, has confirmed that the Tether website, tether.io, is currently suffering a DDOS attack. The post Tether confirms DDOS attack on tether.io appeared first on CryptoSlate.

A report from the Federal Reserve's board of governors argues that stablecoins pose a risk to financial stability. The post US Federal Reserve Says Stablecoin Poses Risk to Financial Stability, Tether's Dominance Quakes appeared first on BeInCrypto.

After a steady drop in its price over the past few weeks, Tether continues to be at the center of the debate around stablecoins. Earlier this week, Tether market cap shrunk below the $70 billion level.

The company behind Tether (USDT) is pushing back on rumors about the reserves composition of the largest stablecoin by market capitalization. In a new statement, Tether denies claims that 85% of its commercial paper holdings are backed by Chinese or Asian commercial papers and are being traded at 30% off. “These rumors are completely false The post Tether (USDT) Issuer Says Rumors About Its Reserves Composition Are ‘Completely False' appeared first on The Daily Hodl.

Investors recently sold over $1.6 billion of Tether (CRYPTO: USDT), dropping its market capitalization to $70 billion. What Happened: On the heels of a cryptocurrency crash, Tether saw an outflow of $1.6 billion of funds.

Cryptocurrency exchange AAX is kicking off “Crypto Summer” with fun-filled crypto trading events that aim to disperse the doom and gloom of the emerging “crypto winter” with the prospect of some tantalizing rewards.  The wider cryptocurrency market has been in a tailspin lately as the value of digital assets falls amid fears of rising inflation … Continued The post AAX to Share 1M USDT Rewards Through Fun “Crypto Summer” Events appeared first on BeInCrypto.

Following the cryptocurrency market turmoil, the total supply of stablecoins has fallen quite significantly. This reportedly marks Q2 of 2022 as the first time in crypto history where the overall supply of stablecoins has decreased.

Tether's day of reckoning could be approaching, and if the top stablecoin issuer cannot calm years-long doubts about the state of the cash reserves backing its dollar peg, an $80 billion run could be coming. With the cryptocurrency market already nearing panic, a run on Tether's USDT stablecoin would be catastrophic, with the potential to