Tether Unveils PearPass, a Serverless Password Manager, After Record 16 Billion Credential Breach

In response to one of the largest data breaches in history, Tether CEO Paolo Ardoino has announced PearPass, a fully local, open-source password manager designed to operate without servers or cloud infrastructure.

The announcement comes on the heels of a Cybernews investigation that uncovered 16 billion stolen login records, affecting nearly every major platform—from Google and Apple to Telegram and GitHub. Many of these credentials are recent, containing active session tokens and browser cookies, pointing to widespread use of infostealer malware that extracts login data directly from infected devices.

“The Cloud Has Failed Us. Again.”

Ardoino made the announcement on X (formerly Twitter), placing the blame squarely on centralized infrastructure. “The cloud has failed us. Again,” he wrote, signaling a philosophical shift away from third-party data storage. With PearPass, Tether is taking a different approach: one that keeps all sensitive data under the user’s direct control.

“Just you — and your keys, stored securely on your devices,” Ardoino added.

PearPass aims to eliminate traditional vulnerabilities by removing servers from the equation altogether. There are no cloud backups, no third-party access points, and no storage on external infrastructure.

By going open-source, Tether also invites community scrutiny, allowing security researchers and developers to review, verify, and improve the code—a step that aligns with modern privacy-first philosophies.

The Fallout: Why This Breach Is Different

According to researchers, this isn't just another leak from a neglected database. The structure of the exposed records—including URLs paired with login credentials, session data, and metadata—suggests a mass siphoning of active user data from infected computers.

“This is not just a leak—it’s a blueprint for mass exploitation,” said investigators at Cybernews. They warn that the stolen data could enable a wave of account takeovers, identity theft, and phishing attacks, all with precision targeting.

The breach briefly surfaced online, long enough for researchers to access it, but not long enough to identify the actors behind it. Still, the damage could be long-lasting. With billions of active credentials potentially in circulation, the risks of re-use attacks and social engineering schemes are higher than ever.

PearPass: A Step Toward Digital Self-Defense

Tether’s entry into the password management space is a notable one. PearPass isn’t just a product—it’s a statement about ownership, privacy, and decentralization. In an age where trust in cloud storage is fading, a server-free model that puts users fully in control may strike a chord with privacy-conscious individuals and security professionals alike.

While it's too soon to say how PearPass will perform in the wild, the concept arrives at a time when users are demanding more secure, transparent tools—and fewer middlemen.