A significant investor or institution suffered the theft of 50 million USDT (Tether) through a phishing scam, and has since contacted the perpetrator via the blockchain. The affected party has offered a $100,000 white hat bounty to incentivize the return of the stolen funds. USDT, a stablecoin pegged to the US dollar, is widely used in the cryptocurrency market, and theft or fraud involving it not only causes financial loss but also undermines market confidence. In this case, the stolen USDT was converted into Ethereum and laundered through Tornado Cash, a privacy-focused transaction service that complicates fund recovery efforts. So far, the scammer has not responded to the victim’s outreach. Incidents like this highlight the ongoing security risks in cryptocurrency and the need for investors to take extra precautions against suspicious activities. They also underscore the importance of strengthening regulatory frameworks to protect users’ rights and secure their assets.
Source: binance
