Tether Partners With UN Agency to Combat Illicit Crypto Flows in Africa

TL;DR:

Tether has partnered with the United Nations Office on Drugs and Crime to combat illicit cryptocurrency activity and strengthen Africa’s digital resilience. Africa’s Growing Vulnerability On Jan.

Key Points:

Background:

Cryptocurrency hacks and exploits target vulnerabilities in smart contracts, exchanges, bridges, and DeFi protocols. These security incidents have resulted in billions of dollars in losses since Bitcoin's inception, highlighting ongoing challenges in securing decentralized systems.

Why It Matters:

Security breaches undermine trust in cryptocurrency platforms and can lead to significant financial losses for users and investors. Each major hack prompts important discussions about security best practices, insurance mechanisms, and the need for better auditing in the crypto space.