Considering the vast amount of Tether changing hands every day, it has proven to be a very safe and secure stablecoin - something reflected in the scale of its institutional adoption.
However, over the years, many have questioned if Tether actually holds sufficient reserves to back each issued USDT with a real US dollar. 2017 was a challenging year for Tether. First, it reportedly wasn’t able to meet all withdrawal requirements, and in November of the same year, $31 million worth of USDT was stolen. This resulted in the company implementing an emergency hard fork which made all the tokens identified as stolen untradeable.