4 ms·
This is much easier to unwind than Mt. Gox since tether is only redeemable through the tether company. Participating exchanges have to upgrade their omni/tethe
by polyomino 9y ago
This is much easier to unwind than Mt. Gox since tether is only redeemable through the tether company.
Participating exchanges have to upgrade their omni/tether clients or they run the risk of accepting the unredeemable tethers for which their customers will hold them liable. Omni's design allows tether to track all the disavowed tethers so there's no risk of payout to addresses downstream of this one.
- rtpg 9y agohas anyone checked to see if this money has already spread to downstream addresses? It's possible the damage is already done and exchanges have accepted money from the poisoned address.
- sanxiyn 9y agoCheck yourself. It has not moved yet: http://omniexplorer.info/lookupadd.aspx?address=16tg2RJuEPtZooy18Wxn2me2RhUdC94N7r http://omniexplorer.info/lookupadd.aspx?address=16tg2RJuEPtZ...
- rtpg 9y agoThanks for the link, very useful for those of us who don't really know what to do with addresses posted in these stories.
- ActsJuvenile 9y agoUnless the address in question was an Exchange deposit address. In that case hacker has purchased $30mm worth of Bitcoins in a matter of hours and moved them out immediately without needing to move Tether anywhere.
- dluan 9y agoThere was already a BTC price spike on Nov 19. This change was from 14 hours ago: https://github.com/tetherto/omnicore/pull/1 https://github.com/tetherto/omnicore/pull/1 Couldn't you just try to find exchanges where Tether volume spiked around that time?
- askmike 9y agoYou mean until the hacker starts sending some money to known exchange addresses and tether cold storage addresses, infecting everything? EDIT: it appears I was wrong!
- ActsJuvenile 9y agoTether patch invalidates the root transaction, so child transactions don't matter. Check it out on Github.
- iamthirsty 9y agoNot everyone has to/will update their clients, though.