SlowMist, a Chinese cybersecurity company, has announced the existence of a double-spending bug in the digital dollar, Tether.

SlowMist explained in a tweet posted on Twitter, that he was able to send the digital dollar (USDT) to an “unnamed” trading platform without having the correct fields on the transaction, and this means that individuals may be restricted to coins of the digital dollar without actually sending them to the platform, It doubles the amount for the user. SlowMist explained the bug as follows:

“It seems that what happened here is that the trading platform is not checking the correct fields on the transactions. They accepted a transaction (Valid = False), which should not be accepted, and then the transaction “Double-Spending” appeared (Valid = True), which was also accepted, we did not find anything missing, this is only a weakness in the platform itself. ”

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It also published the second largest platform by trading volume, OKEx, statement About the error, she stated that she had run a series of tests on her platform after she was notified of the vulnerability by SlowMist, and added that the platform is not at risk or the vulnerability.

Note that the “Double-Spending” defect carries serious repercussions as it can be exploited indefinitely, and it appears that the defect is in the trading platform, and not a problem in the “Tether” system.

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It is worth noting that Tether issued 250 million new coins earlier this week, which was reported to be backed 1:1 per US dollar. The same company had previously launched 300 million new coins at the end of last March, which led to a slight increase in prices at that time.