🚨 Bitget Hack Update
Circle and Tether have frozen stablecoins linked to a wallet connected to Thursday’s $351.6M Bitget hack.
The wallet reportedly held around $218K USDT + $100K USDC, leaving roughly $318K in stablecoins frozen.
Bitget CEO Gracy Chen said attackers exploited a backend system in the exchange’s wallet infrastructure, rather than stealing a private key. She also said Bitget’s $464M+ protection fund can cover the loss.
The incident has renewed discussion around how quickly stablecoin issuers can freeze stolen funds. 🔒
#Crypto #Bitget #Stablecoins #USDC #USDT
Circle and Tether have frozen stablecoins linked to a wallet connected to Thursday’s $351.6M Bitget hack.
The wallet reportedly held around $218K USDT + $100K USDC, leaving roughly $318K in stablecoins frozen.
Bitget CEO Gracy Chen said attackers exploited a backend system in the exchange’s wallet infrastructure, rather than stealing a private key. She also said Bitget’s $464M+ protection fund can cover the loss.
The incident has renewed discussion around how quickly stablecoin issuers can freeze stolen funds. 🔒
#Crypto #Bitget #Stablecoins #USDC #USDT