Tether Launches PearPass Password Manager After 16 Billion Credentials Exposed

Tether, a prominent stablecoin issuer, has announced its plans to launch a serverless, open-source password manager in response to a massive data breach that exposed 16 billion online login credentials. The breach, which was uncovered by researchers, included login credentials for virtually every major online platform, including
, , , GitHub, Telegram, and even government services. The exposed data was not just old information resurfacing; many of the credentials were recent, complete with tokens, cookies, and metadata, indicating that the data was siphoned directly from infected machines.Tether CEO Paolo Ardoino made the announcement on X, stating that the company is preparing to launch PearPass, a fully local, open-source password manager built without reliance on cloud infrastructure. Ardoino's announcement comes after the exposure of what appears to be the largest data breach ever confirmed. The breach has raised concerns about the security of centralized data storage and the potential for mass exploitation by cybercriminals.
PearPass aims to address these concerns by ensuring that all user credentials are stored only on users’ devices, eliminating any external point of failure or surveillance. "The cloud has failed us. Again," Ardoino said, referencing the data breach. "Just you — and your keys, stored securely on your devices," he wrote, emphasizing the importance of local data storage in preventing future breaches.
The data breach, which was discovered by researchers, has been described as a blueprint for mass exploitation. With over 16 billion login records exposed, cybercriminals now have unprecedented access to personal credentials that can be used for account takeover, identity theft, and highly targeted phishing. Researchers warned that the exposure was brief, but that enormous new datasets continue to surface every few weeks.
The launch of PearPass is part of Tether's broader effort to promote decentralized solutions and enhance data security. By offering a serverless, open-source password manager, Tether aims to provide users with a secure and reliable way to manage their login credentials without relying on centralized data storage. The company's announcement has been met with praise from cybersecurity experts, who have long advocated for decentralized solutions to enhance data security.

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