WEB Notes: Many people have said how “safe” these so called currencies are. The fact of the matter is nothing is safe unless you can hold it and even then it can be taken or manipulated. I would not invest in cryptocurrency unless you are willing to lose your investment. That should be common sense when it comes to investing. Do not invest more than you wish to potentially lose.
It starts with nightmarish messages like this:
Yesterday, we discovered that funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker. Tether integrators must take immediate action, as discussed below, to prevent further ecosystem disruption.
Disappeared: $31 million in tether tokens. This was reported Monday night by Tether, the company behind the cryptocurrency “tether,” with a market capitalization of $673 million, according to CoinMarketCap. The value of tether, which is “tethered” to the US dollar, continued to hover around $1.
But bitcoin plunged 5% and then recovered. Tether is used is used as a medium to transfer cryptocurrencies to other exchanges in other countries without using the dollar and without using banks.