Crypto Biz Tether flees from banks Ledgers backdoor for seed phrases and more

1. Tether's issues with banks (Main topic) Tether,the cryptocurrency company behind the USDT stablecoin,has been facing issues with banks. Specifically,Tether's banking partner,the Bahamas-based Deltec Bank,has reportedly stopped holding the company's reserves. This comes after several other banks cut ties with Tether in recent years. Due to the lack of transparency around Tether's reserves,there are concerns that the company may not be fully backed by US dollars as it claims.

2. Ledger's backdoor vulnerability Another topic covered in the article is Ledger,a popular hardware wallet for cryptocurrencies. A recent security report found that Ledger's devices have a backdoor vulnerability that could allow hackers to steal users' funds. The vulnerability is related to the recovery seed phrase,which is used to restore a wallet's funds in case the device is lost or damaged. Ledger has since acknowledged the issue and promised to release a fix.

3. Cryptocurrency scams The article also touches on the topic of cryptocurrency scams,which have been on the rise in recent years. One such scam is the "fake giveaway" scam,where scammers impersonate famous cryptocurrency figures and promise to give away large amounts of cryptocurrency in exchange for a small fee. The article provides examples of such scams and advises readers to be cautious and verify the legitimacy of any offers they receive. Overall,the main topic of the article is Tether's issues with banks and the potential implications for the stability of the cryptocurrency market. The other topics covered serve to highlight some of the broader issues facing the cryptocurrency industry,such as security vulnerabilities and scams.



source https://titdoi.com/news/Crypto-Biz-Tether-flees-from-banks-Ledgers-backdoor-for-seed-phrases-and-more