Circle strikes again—about 211,000 USDC tied to the funds stolen from Bitget has been frozen once more.
On-chain investigator tanuki42 says the funds originally intended to transfer between EVM and Noble via CCTP, but due to a cap on the Noble-side bridge capacity, one of the transfers got stuck pending at the bridge. Taking advantage of the window before the quota reset, the team pushed Circle to add the target address to the blacklist. The transfer couldn’t be completed and therefore wasn’t settled. As of now, roughly $211,000 remains stuck between Noble and Ethereum.
This incident at least shows two things: first, the attacker’s stablecoin route is still being actively tracked; second, risk-control actions by centralized stablecoins can directly alter the flow of funds. Pressure to rebuild trust in Bitget and BGB remains, and if more addresses are subsequently blacklisted, or if legal proceedings move forward to recover the funds, market sentiment may continue to focus on whether “tracking is effective” and “how quickly compensation is made.”
Source: BlockBeats
Which side are you more concerned with: Circle’s freeze efficiency, or Bitget’s subsequent compensation and security incident post-mortem timeline?
Figure 1: Circle freezes USDC related to Bitget’s stolen funds again · Source page partial screenshot
Image source: https://www.theblockbeats.info/flash/369475
On-chain investigator tanuki42 says the funds originally intended to transfer between EVM and Noble via CCTP, but due to a cap on the Noble-side bridge capacity, one of the transfers got stuck pending at the bridge. Taking advantage of the window before the quota reset, the team pushed Circle to add the target address to the blacklist. The transfer couldn’t be completed and therefore wasn’t settled. As of now, roughly $211,000 remains stuck between Noble and Ethereum.
This incident at least shows two things: first, the attacker’s stablecoin route is still being actively tracked; second, risk-control actions by centralized stablecoins can directly alter the flow of funds. Pressure to rebuild trust in Bitget and BGB remains, and if more addresses are subsequently blacklisted, or if legal proceedings move forward to recover the funds, market sentiment may continue to focus on whether “tracking is effective” and “how quickly compensation is made.”
Source: BlockBeats
Which side are you more concerned with: Circle’s freeze efficiency, or Bitget’s subsequent compensation and security incident post-mortem timeline?
Figure 1: Circle freezes USDC related to Bitget’s stolen funds again · Source page partial screenshot
Image source: https://www.theblockbeats.info/flash/369475
