Tether Accidentally Minted $5 Billion USDT While Issuing Omni To Tron Swap
Stablecoin company Tether accidentally Minted $5 Billion USDT while issuing Omni to Tron swap reported on 13 July 2019.
This accident is reported by CTO of Tether Paolo Ardoino after a whale alert bot on Twitter announced the transaction of $5 billion USDT Printing. He tweeted “While preparing the issuance for Omni to Tron swap there have been an issue with the token decimals.”
Official news is that the amount printed should be have been 50M as part of a swap from Omni to Tron Tether. This was corrected by burning the full amount in two subsequent transactions:
1- https://t.co/QlYRhEX5LL
2- https://t.co/gobsOzzMDZ
The CEO of Tron, Justin Sun reported in his tweet that “50 million #USDT transfer from Omni to #TRON. Please check the total issuance here: https://tronscan.org/#/token20/TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t …” by replying to the whale Alert bot.
Poloniex Cryptocurrency exchange also confirmed this accident in his tweet by saying ” Paolo is correct – this occurred while Poloniex was conducting a USDT chain swap with the help of Tether. An incorrect amount of USDT was accidentally minted, and this has since been resolved to the intended value. “
Previously, Cryptocurrency exchange Bitfinex repaid $100 Million to Tether ( operator of stablecoin USDT).
