1. Stablecoin Reserve Audit Fraud: Tether/USDC Unbacked Assets Exposed
Intelligence from a whistleblower within a major stablecoin issuer reveals systemic fraud in reserve audits, particularly concerning Tether (USDT) and USD Coin (USDC). Internal memos detail how auditors are presented with fabricated or misrepresented collateral, including illiquid or non-existent assets. This allows ...