🔥 Emergency Bulletin: Bitget hacked—amount skyrockets to $387 million, and official issuers move in immediately!
A system vulnerability at the Bitget exchange was breached by North Korean hackers, and the estimated losses are now expected to expand to $387.5 million. But the most counterintuitive part is that issuers Circle and Tether have already stepped in to directly freeze the stablecoins in the hackers’ wallets. This means that while centralized assets have lost the spirit of decentralization, they’ve become the last lifeline when the exchange suffers a near-fatal blow.
The freezing of massive funds has temporarily eased panic over market sell-offs. For now, BTC is holding around $83,702, and the Fear Index remains at 71. However, the whale long/short ratio has risen to 1.92, indicating large holders are actively hedging and defending. If retail investors keep large amounts of assets in centralized exchanges, they’re likely to become collective victims of the system storm.
“Decentralized stablecoin compliance checks have somehow become the final line of defense for saving centralized exchanges.”
(Above is purely personal observation, not investment advice.)
When stablecoins are frozen directly by issuers, do you think it protects retail investors—or does it go against the spirit of Web3?
Cheese King updates every day—take you behind the scenes of whale movements 🧀
#macroeconomics #blockchain #cryptonews #finance
A system vulnerability at the Bitget exchange was breached by North Korean hackers, and the estimated losses are now expected to expand to $387.5 million. But the most counterintuitive part is that issuers Circle and Tether have already stepped in to directly freeze the stablecoins in the hackers’ wallets. This means that while centralized assets have lost the spirit of decentralization, they’ve become the last lifeline when the exchange suffers a near-fatal blow.
The freezing of massive funds has temporarily eased panic over market sell-offs. For now, BTC is holding around $83,702, and the Fear Index remains at 71. However, the whale long/short ratio has risen to 1.92, indicating large holders are actively hedging and defending. If retail investors keep large amounts of assets in centralized exchanges, they’re likely to become collective victims of the system storm.
“Decentralized stablecoin compliance checks have somehow become the final line of defense for saving centralized exchanges.”
(Above is purely personal observation, not investment advice.)
When stablecoins are frozen directly by issuers, do you think it protects retail investors—or does it go against the spirit of Web3?
Cheese King updates every day—take you behind the scenes of whale movements 🧀
#macroeconomics #blockchain #cryptonews #finance