2/
re: #PolyNetwork hack, I got messages from > 10 different people at the same time and telegram calls.
Within 20mins #Tether
tech team organized the multisig freezing process.
This case was extremely simple. Information was peer/public-validated, we acted immediately.
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3/ The address we froze just receiving 100s M USD equiv. of crypto assets from
#PolyNetwork contracts. Fresh address, no other activity. It wasn't active part of any DeFi pool / DEX / CEX, ...No doubts.4 replies 0 retweets 28 likesShow this thread -
4/ Frozen funds will be released back to the legitimate owner once there is confirmation / proof of proper actions taken in order to restore security of the bridges.
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5/ *** General procedure *** Sometimes Tether users report private hacks / scams and request an address freeze. ALL information needs to be gathered to Tether via inforequests@tether.to with attached a Law Enforcement letter that confirms the claimant information / request.
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6/ - a detailed LE confirmation and endorsement is critical because there is no public available information - claimant needs to go through http://tether.to banking grade KYC/AML process - address(es) don't need to be part of CEX/DEX/DeFi pools, Tether won't affect others
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7/ The general process of freezing and re-issuing is extremely thorough (people that went through it can surely confirm it). Compliance and Law Enforcement interactions are mandatory to protect all
#Tether
users and Tether Company itself.2 replies 0 retweets 19 likesShow this thread -
8/ Tether manages the re-issuance phase extremely carefully. Tether needs to ensure that there are no other claimants, hence there is a delay (of several months) to allow other parties to contact Tether and make their case as well.
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9/ Sometimes people ask me: "why are you guys doing all this? Sometimes must be ......... overwhelming with so many donkeys trolling you. Aren't you tired? Why aren't you gives living an easier life?"
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10/
#Tether
was born in 2014 to contribute and innovate into #bitcoin
and #crypto ecosystem, creating the first stablecoin and opening the path for many others. Our mission has always been to be part of a bigger story that aimed to solve the problem of unfair access to finance.2 replies 2 retweets 28 likesShow this thread -
11/
#crypto must be different from traditional financial actors. It is made by peers that want to create a better future, peers that understand that without being a community, things won't ever change. Otherwise we circle back to be just old fashioned banks
1 reply 2 retweets 32 likesShow this thread
12/
Tether team wants to be part of this story, we care to protect #crypto . We do it with all the passion we are capable of. Sometimes we face difficulties but we have a lot of friends that share our ideals and we become stronger.
This is what happens when you truly innovate.
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13/ In the end, people in
#crypto have to decide if "we're in for the technology, to create a better and inclusive future, ...." is just bulls**t or not. Words don't matter much anyway, just actions.1 reply 1 retweet 30 likesShow this thread -
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