Tether CEO Launches PearPass After 16 Billion Passwords Leaked

Tether CEO Paolo Ardoino has introduced PearPass, an open-source password manager, in response to the largest credential breach ever recorded, which involved the leak of 16 billion passwords. Ardoino emphasized the failure of cloud-based services in securing personal data, stating, “The cloud has failed us. Again. 16 billion passwords just leaked. It’s time to ditch the cloud.”

PearPass is designed to operate entirely offline, ensuring that users’ keys and credentials are stored only on their personal devices. This approach aims to eliminate the vulnerabilities associated with centralized storage and server reliance, which have been exploited in previous large-scale breaches. The leaked data includes login information for accounts across major platforms, exposing billions of users to potential unauthorized access, fraud, and identity theft.

Cybersecurity analysts have not yet identified the perpetrators behind the breach but have highlighted the persistent weaknesses in how cloud-based services handle personal data at scale. Ardoino’s PearPass project addresses these issues by providing a fully local-first, open-source solution that is resistant to mass hacking attempts. Early previews of PearPass suggest that it will allow users to generate, store, and manage strong passwords without ever syncing data to the internet, a model that privacy advocates have long endorsed.

Industry security experts warn that the aftermath of the leak could be severe if users do not update their passwords immediately. Attackers often bundle stolen credentials for use in automated “credential stuffing” attacks, where leaked usernames and passwords are tested en masse across banking, email, and social media accounts to hijack additional services. Major tech companies affected by the breach have not released official statements or disclosed the extent of the compromise.

Cybersecurity agencies recommend that all users enable multi-factor authentication, monitor accounts for suspicious activity, and avoid reusing passwords across multiple sites. As investigations continue, Ardoino’s PearPass announcement has sparked renewed calls for better personal data ownership and decentralized security solutions, which could help reduce the impact of future large-scale breaches. PearPass is expected to launch publicly in the coming months.