Circle & Tether Freeze Bitget Hacker Wallet 🚨
Circle and Tether have blacklisted a wallet linked to the Bitget hack, freezing roughly $318,000 in USDC and USDT. Circle acted first, followed by Tether several hours later, according to on-chain data.
But that’s only a tiny slice of the estimated $387.5 million stolen. More than 63,000 ETH remains in other exploiter wallets, and Ethereum itself can’t be frozen by stablecoin issuers. 👀
The incident highlights a major difference between stablecoins and native crypto assets: issuers can block their own tokens, while assets like ETH remain outside that control.#CircleTetherFreezeBitgetHackerWallet
Circle and Tether have blacklisted a wallet linked to the Bitget hack, freezing roughly $318,000 in USDC and USDT. Circle acted first, followed by Tether several hours later, according to on-chain data.
But that’s only a tiny slice of the estimated $387.5 million stolen. More than 63,000 ETH remains in other exploiter wallets, and Ethereum itself can’t be frozen by stablecoin issuers. 👀
The incident highlights a major difference between stablecoins and native crypto assets: issuers can block their own tokens, while assets like ETH remain outside that control.#CircleTetherFreezeBitgetHackerWallet