Tether has revealed that it received a ransom ware attack in which hackers demanded a ransom of 500 Bitcoin ($24 million).
Over the weekend, it was said on Twitter that ransom had been demanded, saying that leaking the documents would “damage the Bitcoin ecosystem“.
Tether said the payment deadline was March 1st but added, “We are not going to pay the hackers.”
“It is not clear whether this is a basic blackmail system such as those aimed at other cryptocurrency companies or individuals seeking to undermine Tether and the cryptocurrency community as a whole,” said Tether. “Either way, those trying to harm Tether are becoming more and more desperate.“
The company also used the same thread to claim that documents circulated on the Internet that allegedly showed suspicious communication between employees of Tether, Deltec Bank & Trust, and other parties were “fake.”
The unverified screenshots appear to be related to the Bahamas-based Deltec, which has a banking relationship with Tether, and a discussion of asset support. Tether says the documents are “fake“.
In a separate tweet, Tether and Bitfinex CTO Paolo Ardoino said the main purpose of these alleged leaks “is to discredit #bitcoin and all #crypto.”
“While we believe this is a very sad attempt at defamation, we take it seriously. We mentioned the false communications and the relevant demand for ransom in law enforcement. As always, we will fully support law enforcement in an investigation into this system of blackmail”, Tether said.