$31 M in cryptocurrency tokens stolen, Bitcoin and Ethereum take a hit

Tether, a company that issues a cryptocurrency called USDT that is pegged to the U.S. dollar, said that nearly $31 million worth of tokens were stolen from its digital treasury wallet.

The act, says Tether, was perpetrated “through malicious action by an external hacker.”

They added: “As Tether is the issuer of the USDT managed asset, we will not redeem any of the stolen tokens, and we are in the process of attempting token recovery to prevent them from entering the broader ecosystem.”

Though Tether has assured the market that steps are being taken, the broader cryptocurrency investment market is now under a shadow after the heist. Bitcoin started falling and was a full 1% down after the news broke on Tuesday.

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