It has been such a long time since Tether was fighting a legal case with the New York Attorney General’s Office. At last, the feud between the two entities came to an end and while Tether was trying to catch its breath, it has been hit by another incident/tragedy.

The company has revealed that it has become a victim of a ransomware attempt. The firm has revealed that the extortionists are now threatening the stablecoin in numerous ways. Although they are not worried about other cases there is one particular matter they are concerned about.

The stablecoin issuer has revealed that the extortionists are blackmailing their company with documents related to Bitcoin (BTC). They are stating that if the company does not follow what they say, then they will release the documentation they have around Bitcoin (BTC).

The documentation has the potential of causing harm and a huge amount of loss to the Bitcoin (BTC) ecosystem. The blackmailers are reportedly demanding 500 Bitcoin (BTC) from Tether stating that they will hand over the documentation once the ransom has been paid.

Furthermore, the blackmailers have given Tether the deadline until Monday, March 1, 2021, to pay the amount. If they do not pay the amount, then they will suffer the consequences for not complying with the demand.

However, Tether has stated that it is not bothered by the blackmailers and it will not be paying any attention to their threats. The firm stated that it is not going to give in to the false claims made by the blackmailers in regards to the release of the sensitive documentation.

The officials at Tether have stated that the blackmailers are just coming after the platform with forged documents. They are confident that the blackmailers have no access to the logs or files of Tether and its development teams. Therefore, all the claims made by the blackmailers are bogus and false.

The officials have stated that although they are not bothered with the extortion attempt, yet that they did what they need to do in order to record the incident.

The legal team at Tether has reportedly launched a complaint against the blackmailers with the law enforcement. They have provided all the details they have available around the blackmailers and are now waiting for the law enforcement authorities to investigate the matter.

Tether also went on Twitter and informed all followers and the entire cryptocurrency community about the extortion attempt.

The officials have stated that now that they have reported the incident to the law enforcement authorities, they will be providing them with full support to take down the blackmailers.

The CTO at Tether, Paolo Ardiono has stated that although the blackmailers are demanding ransom, yet they are trying to discredit other cryptocurrencies as well as Bitcoin (BTC) with their actions.


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