Tron's $91B USDT Stablecoin Controlled by Two Vulnerable Keys

A major concern has been raised about the stability of the Tron network's USDT stablecoin, which is controlled by just two signing keys. Hacken, a blockchain security firm, found that these keys could be taken over by anyone who obtained them, giving an attacker immense power to manipulate the contract and mint tokens.

About half of all circulating USDT on Tron, roughly $91.3 billion, is governed by this two-key structure. The concern is architectural: there is no built-in delay or cancellation process to reverse an unauthorized administrative transaction.

According to Hacken's assessment, an attacker controlling the required keys could transfer contract ownership, mint USDT, freeze addresses, and even halt or restart transfers. This raises questions about the potential risks of a security breach, not just on Tron but also on other networks where Tether reuses the same signing keys.

Tether's financial position can improve while operational risks embedded in the contracts remain unchanged. Investors should assess reserve strength and administrative security as separate parts of the stablecoin risk profile.