The rating agency's new framework combines Wall Street financial auditing with Web3 code reviews to evaluate both off-chain reserves and on-chain security.
- About $91.3 billion of USDT on Tron is controlled by a contract that could be seized with two signing keys, allowing an attacker to mint tokens, freeze addresses or reassign ownership without a delay or reversal mechanism.
- Bluechip raised Tether’s corporate grade to C from D after a KPMG audit found its reserves exceeded liabilities by $6.8 billion, even as Hacken gave USDT a cybersecurity score of 3.3 out of 10.
- Hacken found no evidence of compromised keys or a security incident, but warned that reused signing keys could extend administrative risks across Ethereum, Avalanche and Celo.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Once a $2 billion Ethereum layer-2, Blast is shutting down after assets plunge 98%
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