Warning - Tether is owned by Bitfinex and Withdraws are Halted

After Bitfinex's move to share the BTC losses among all exchange customers (including those who did not hold BTC), the halting of withdraws on Tether is causing worries among their userbase. And according to Reeve Collins LinkedIn, "Tether was acquired by Bitfinex the world's largest bitcoin exchange" not too long after its release.

Tether is advertised as a currency that has a 1-1 peg to the USD. With $7.5 million at stake we await to hear more information about the funds and when they will be available again for withdrawal. Since the USDT market was affected by the BTC hack, many users ponder if Tether will be next.

For now it is recommended to not deposit any funds until this situation is resolved.