Circle and Tether just froze ~$318K in $USDC and $USDT tied to the Bitget hack.
Context: Over $350M drained from Bitget hot wallets. Most of it? Still sitting in $ETH.
Here's the thing—stablecoins can be blacklisted and frozen by issuers. $ETH? Can't touch it. This is the trade-off between censorship resistance and "reversibility."
Stablecoins = centralized kill switch.
Decentralized assets = immutable, for better or worse.
Watching how much actually gets recovered. My guess? Not much beyond that frozen $318K.
Context: Over $350M drained from Bitget hot wallets. Most of it? Still sitting in $ETH.
Here's the thing—stablecoins can be blacklisted and frozen by issuers. $ETH? Can't touch it. This is the trade-off between censorship resistance and "reversibility."
Stablecoins = centralized kill switch.
Decentralized assets = immutable, for better or worse.
Watching how much actually gets recovered. My guess? Not much beyond that frozen $318K.
