Tether implicated in Russian weapons sales, completes security audit
Tether announced on April Fool’s Day that it had completed an audit — unfortunately, it was a security audit, not a financial audit, the results were not shared publicly, and the positive news came on the heels of a WSJ article implicating the stablecoin in the Russian acquisition of weapons for its ongoing war in Ukraine. A press release states that Tether , which has taken to proclaiming itself “the largest company in the cryptocurrency industry” over the past month, has complete d an audit “ensuring that Tether had robust IT control measures in place to make sure their systems were safe.” It did not bother to explain how over $30 million worth of USDT was somehow hacked and moved in 2017. Tether audit comes with good and really bad news While any audit that Tether can complete is undoubtedly good news, the security audit was announced shortly after a highly critical WSJ article that detailed the use of USDT by Vladimir Putin’s regime to purchase weapons and ammunition....