đ $ETH 2,689 (-0.1%): Circle and Tether froze $318K of the $387.5M taken from Bitget
Bitget says $387.5M moved to attacker-controlled addresses on Thursday (first estimate: $351.6M). Circle and Tether froze one address holding about $318K in stablecoins (via CoinDesk). Bitget says some other assets were frozen too, without an amount.
My take: a freeze only works on assets that have an issuer. Stablecoins do, ETH doesn't: MistTrack showed 63,000+ ETH, about $170M, still in exploiter wallets. So the $464M protection fund, not the freeze, is what covers users, with at least $76.5M to spare. North Korea is a suspicion from Bitget's CEO, not a finding.
What I'm doing: watching the September 28 withdrawal reopening (BTC first) before judging how this was handled.
Do you keep more on exchanges or in self-custody? đ€
Data: Bitget, CoinDesk and PANews via Binance News, Binance spot, as of 08:27 UTC. Not financial advice.
Bitget says $387.5M moved to attacker-controlled addresses on Thursday (first estimate: $351.6M). Circle and Tether froze one address holding about $318K in stablecoins (via CoinDesk). Bitget says some other assets were frozen too, without an amount.
My take: a freeze only works on assets that have an issuer. Stablecoins do, ETH doesn't: MistTrack showed 63,000+ ETH, about $170M, still in exploiter wallets. So the $464M protection fund, not the freeze, is what covers users, with at least $76.5M to spare. North Korea is a suspicion from Bitget's CEO, not a finding.
What I'm doing: watching the September 28 withdrawal reopening (BTC first) before judging how this was handled.
Do you keep more on exchanges or in self-custody? đ€
Data: Bitget, CoinDesk and PANews via Binance News, Binance spot, as of 08:27 UTC. Not financial advice.