TL;DR
- A record-shattering 16 billion username-password pairs were leaked from major platforms, sparking fears of mass phishing and ransomware onslaughts.
- Tether’s new PearPass locks your vault on your device—no cloud servers, no honeypots—using open-source encryption for full user control.
- Community-driven code audits, encrypted peer-to-peer sync, and seamless recovery underscore Tether’s push for local-first, decentralized security.
Tether’s CEO, Paolo Ardoino, has unveiled PearPass, a groundbreaking, fully local, and open-source password manager born from the fallout of a record-breaking 16 billion password data breach. In a bold rejection of centralized, cloud-based storage, PearPass promises to put security squarely back in users’ hands.
The cloud has failed us. Again.
16 billion passwords just leaked.
It’s time to ditch the cloud.That’s why we’ve been building PearPass — coming soon.
A fully local, open-source password manager. No cloud. No servers. No leaks. Ever.
Just you — and your keys, stored securely… https://t.co/FkL1wrdpCo pic.twitter.com/wynlieJ2E4
— Paolo Ardoino 🤖 (@paoloardoino) June 19, 2025
The Breach That Shocked the Internet
Last week, cybersecurity researchers sounded the alarm on what’s being dubbed the largest credential leak in history. Some 16 billion username-password pairs, harvested from platforms including Apple, Facebook, Google, and several government services, suddenly surfaced in multiple data dumps.
Experts warn that this trove, complete with tokens, cookies, and metadata, paints a “blueprint for mass exploitation.” Phishing campaigns and ransomware attacks are expected to spike as threat actors sift through this unprecedented haul.
PearPass: Ditching the Cloud
In response to the breach, Ardoino went on social media, stating, “The cloud has failed us. Again. It’s time to ditch the cloud.” His solution: PearPass, a password manager that lives entirely on your device. No remote servers, no cloud-based vaults, no central “honeypots” for hackers to target. Instead, all encryption keys and login data remain in users’ control, stored locally behind robust open-source cryptography.
A Local-First Security Philosophy
By open-sourcing PearPass’s code, Tether invites independent auditors and developers to inspect and improve every line. This openness aims to foster trust and accelerate improvements driven by the community. Users will benefit from regular security audits, seamless cross-device syncing via encrypted peer-to-peer channels, and intuitive recovery protocols, without compromising their privacy through any third-party infrastructure.
Expanding the Decentralized Frontier
PearPass joins a growing roster of Tether initiatives emphasizing decentralization and user sovereignty. In 2022, the company launched Pear Credit with Holepunch and Synonym, pioneering peer-to-peer lending. Ardoino has also championed Tether AI, an open-source, device-agnostic AI framework designed to run offline and integrate with crypto wallets.
Meanwhile, Tether’s law enforcement collaborations have frozen over $2.7 billion in suspicious USDT transactions, underscoring the firm’s commitment to compliance in a trustless world. PearPass is slated for release later this year. As digital threats evolve, Tether hopes its local-first approach will reset the bar for cybersecurity, ensuring that when the next breach comes, users won’t have to fear the cloud.
