This post is from a low-reputation account and contains an unverified outbound link. Be cautious before clicking external links.

Tether (USDT) double spending issue gets Huobi and other exchanges on alert

bcfocus2018(14)

Published in

#tether

Words

166

Reading

1 min

Listen

Play

Tether (USDT) is currently swimming in troubled waters after reports emerged that USDT is hit with a double spending issue. Analysts at a Chinese cybersecurity firm called SlowMist said they’d found a double spending vulnerability in the cryptocurrency. After the news broke yesterday, it has put several cryptocurrency exchanges on the alert including Huobi, OKEx and KuCoin. Huobi and KuCoin have been in the news recently after the exchanges announced that they’ll stop trading services in Japan.Source

The cybersecurity firm tweeted saying that they sent USDT to an unnamed exchange. They said they were able to do it without the correct field values on the transaction. This means that USDT holders might be credited for tokens even though they hadn’t actually sent them. Thus, leading to double spending of the USDT tokens.