Bitcoin, Ethereum prices fall on November 21 after $31m Tether theft

Men wearing masks of characters from the newly announced Sony Online Entertainment video game
wearing masks of characters from the Sony video game “Payday: The
Heist” at the Electronic Entertainment Expo in Los Angeles in


  • Tether, the company behind a cryptocurrency pegged to
    the US dollar, said $31 million was stolen from its main wallet
    on Sunday.
  • Heist appears to have shaken markets, with bitcoin,
    Ethereum, and bitcoin cash all falling.

LONDON — The major cryptocurrencies bitcoin and Ethereum were
falling against the dollar on Tuesday morning after a $31 million
heist elsewhere in the digital currency world.

Tether, which created a cryptocurrency called USDT that is pegged
to the dollar, said in a blog
post on Tuesday
that “funds were improperly removed from the
Tether treasury wallet through malicious action by an external

The US company said $30,950,010 was taken Sunday.

“As Tether is the issuer of the USDT managed asset, we will not
redeem any of the stolen tokens, and we are in the process of
attempting token recovery to prevent them from entering the
broader ecosystem,” Tether said.

Tether is down 0.3% against the dollar on the back of the news,
according to

The theft appears to have shaken wider confidence in crypto
markets. Bitcoin
was down almost 1% against the dollar
at 7.45 a.m. BST (2.45
a.m. ET):bitcoinMarkets

Ethereum, the second-biggest cryptocurrency by market
capitalization, was down by
1.5% against the dollar
at the same time:


Bitcoin cash, the third-largest cryptocurrency by market
capitalization, is down over 5%:bitcoin cashMarkets


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