Tether faces 500 Bitcoin ransom: We are ‘not paying’

There are elements of soap opera about this story. Let’s see what happens next…

Tether has revealed a ransomware demand in which threat actors are allegedly demanding 500 Bitcoin ($24 million). Over the weekend, the blockchain and cryptocurrency organization said on Twitter that a demand for payment had been made, on pain of documents being leaked online that would “harm the Bitcoin ecosystem.”

The wallet address associated with the demand, at the time of writing, has $72 in BTC stored.

Tether said that the payment deadline is March 1, but added, “We are not paying.”

“It is unclear whether this is a basic extortion scheme like those directed at other crypto companies or people looking to undermine Tether and the crypto community as a whole,” Tether says. “Either way, those seeking to harm Tether are getting increasingly desperate.”

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