Suggestions that the code for Tether’s dollar-pegged cryptocurrency USDT may contain an error that can be exploited to allow double spending appear to be false.
According to the latest statements from both blockchain security firm Slow Mist, the company that made the original claim, and Tether, the startup that provides software for USDT, the issue is actually down to an exchange integration flaw.
On Thursday, Slow Mist seemed to claim in a WeChat post that when an exchange is conducting a transaction with USDT, the exchange needs to verify that the transactions details are “true,” otherwise a double spend can occur.
However, in a statement, a spokesperson for Tether emphasized that the issue was not part of the USDT protocol.
They told CoinDesk:
“Rather, it was due to a faulty integration of Tether at the exchange level.
Rumors on Tether Coding Error Seem to Be All False During the last days there has been a rumor about an error in Tether’s (USDT) code that would allow individuals to double spend funds. Apparently, the information about that problem seems to be false.
According the latest statements from both blockchain security firm Slow Mist and Tether, the issue is actually down to an exchange integration flaw. On Thursday, Slow Mist claimed in a WeChat post that when an exchange is conducting a transaction with USDT, the exchange needs to verify that the transactions details are “true. ” If this is not
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