Tether Complains of Receiving Bitcoin Ransomware Threat

It took some years for Tether to finally settle its dispute with the Office of Attorney General in New York, yet the firm recently complained of receiving Bitcoin ransomware threats. Says it has been targeted by scammers who have been trying to extort crypto funds from the company. Informed that scammers demanded 500 Bitcoin upfront or else they will harm the crypto ecosystem, particularly Bitcoin.

It was complained of recently by Tether that it was subjected to extortion of crypto funds by scammers. Tether revealed that it received Bitcoin ransomware threats wherein the scammers demanded to pay upfront 500 Bitcoins. The threat posed by scammers was that if their demands were not fulfilled then they will harm the crypto ecosystem, particularly Bitcoin.

But as of today, Tether has informed that it has to get rid of the ransomware threats. However, it told that the scammers were trying to use forged and bogus documents in order to blackmail the company.

In the words of Tether, the alleged documents were relating to a correspondence between the official of Tether and Deltec bank. The issue of ransomware attack was also taken up by Tether at Twitter. The company’s officials posted on Twitter in which they categorically denied of having any intent to pay to the scammers.

The company informed that the blackmailers had given the deadline of 1st March for meeting their illegitimate demands. However, the deadline has been expired and so far Tether hasn’t paid a single penny to them.

The local law enforcement agencies as well as cybercrimes authorities were all notified about the threats. Thereafter, the company also submitted its report to these authorities for helping the authorities in conducting their investigation. It was stated by Tether that the ransomware attempts were duly notified to the concerned authorities. It also promised to abide by the law and help and assist the authorities in whatever way possible.

On the other hand, Paolo Ardiono, Tether’s and Bitfinex’s joint CTO, said in a tweet message that they would never encourage blackmailers. He stated that the objective of blackmailers is to upset the present resurgence of the crypto market and Bitcoin’s rally.

Paolo also posted a picture of a tweet that was posted by a Twitter user who goes by the name Trolly McTrollface. In that post, McTrollface had claimed that he was within the knowledge of an email addressed to Deltec by Bitfinex. Twitter account holder claimed that alleged email is an essential part of mysterious puzzle which can potentially change crypto industry’s future.

Paolo not only denied such claims but also clarified that the user is misguided. He also warned the Twitter user that even if the document was not of any importance, even then legal proceedings could be instituted against him.