Tether Exchanges: How to avoid getting ‘Tethered’.

  1. Disable trading of Tether immediately to prevent adverse market conditions and close all orders based on Tether.
  2. Acquire a legitimate bank account for your exchange, in your exchanges name. No shell company games, no shenanigans.
    In theory, you should already have a bank account.
  3. Immediately demand that Tether convert all Tethers you hold on behalf of your customers, to US Dollars, and to transfer them to your bona fide, corporate owned, bank account.
  4. Once Tether transfers all funds to your account, replace all users USDT, with USD and re-enable trading for them, but now they have USD to trade with.
  5. Start using real banking with USD, instead of Tether. You’re already supposed to be KYC/AML compliant anyway. There’s no advantage to using Tether, only disadvantage.

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Bitfinex’ed

Bitfinex’ed

Blog for @Bitfinexed on Twitter. Exposing possible fraud by largest Bitcoin exchange, Bitfinex/Tether