Crazy blunder: $5 billion in tether was accidentally minted

Crazy blunder: 50 billion in tether was accidentally minted

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Teodor Stig-Matz

teodor.matz@trijo.co

Today, we are all happy that we are not the person who got a decimal point wrong and therefore issued way much tether.

Tether is a cryptocurrency linked to the US dollar. The value of a tether should always be one dollar, and although it is uncertain whether the cryptocurrency really has coverage for this, it has become a popular tool for trading cryptocurrencies on the world’s exchanges.

Now someone at the company behind tether has made a blunder that will probably be a major talking point at office parties in the near future.

Decimals were wrong

When 50 million in the controversial cryptocurrency was to be issued and sent to the crypto exchange Poloniex, a decimal point was in the wrong place.

Instead of the 50 million tether to be issued, 5 billion in the cryptocurrency was minted.

After the mistake was discovered, the entire amount was destroyed and the correct number of tether was reminted and sent to Poloniex, Cointelegraph reports.

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