Cryptocurrency and the security race in the digital age
On Thursday, CEO of Tether, Paolo Ardoino, revealed the PearPass project — an open-source password manager, entirely self-hosted. This is a strong response to the largest data breach in the history of the internet, where 16 billion usernames and passwords from platforms like Apple, Facebook, Google, and various government services were leaked.
Ardoino's sharing style on social network X exposes the cloud's inefficacy in data security. "The cloud has failed us. Repeat after me," he wrote. "It's time to abandon the cloud."
PearPass: A secure solution from a local platform
With the release of PearPass, Ardoino emphasized that this will be a completely internal, open-source tool where user data, including encryption keys, will be stored directly on their own devices. This shift aims to minimize risks from cloud services and centralized data centers.
"No cloud. No server. No data leaks. Always," he affirmed. Tether's platforms, the issuer of the globally popular stablecoin USDT, may integrate PearPass in the future to strengthen security strategies in the industry.
History of cooperation and DeFi service projects
In 2022, Tether partnered with Holepunch and Synonym to launch Pear Credit — a peer-to-peer financial system that allows decentralized borrowing and lending. This demonstrates the company's commitment to security and decentralized finance (DeFi).
Data fraud and cryptocurrency risks
According to a report by Forbes, the data leak included over 16 billion passwords and login information from various platforms, causing the cryptocurrency community to worry about security. This data was collected from multiple sources such as VPNs, software development portals, and business and government accounts.
Analysis shows that there are over 30 distinct datasets, averaging 3.5 billion records each, reflecting the extremely complex scale of cyber attacks. Many of these data relate to malware, credential stuffing, and other leaks.
Attackers often use malware to collect sensitive data such as credentials, browser cookies, Tokens — all of which can be exploited to gain unauthorized access to systems.
Ardoino's security philosophy
In the context of the newly launched PearPass, Ardoino emphasized that security technologies must operate independently, without relying on large data centers. He called for the construction of backup systems "equipped for worst-case scenarios."
This includes P2P encryption platforms like HolePunch and Tether AI — an open AI ecosystem, running offline, directly integrated into cryptocurrency wallets via Tether WDK. This policy clearly reflects the optimization of blockchain, where safety and privacy are always prioritized.
Conclusion: Innovating security for the future of cryptocurrency
Meanwhile, the U.S. Department of Justice (DOJ) seized approximately $225 million USDT in a crackdown on fraudulent activities, "sell-off" in the cryptocurrency market. This shows that smart technology combined with strict legal measures is crucial to maintaining transparency and safety in this market.
Source: https://tintucbitcoin.com/ceo-tether-tiet-lo-quan-ly-mat-khau-mo/
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