#circletetherfreezebitgethackerwallet Circle and Tether have frozen around $318,000 in USDC and USDT linked to the Bitget
hack.
The move comes after more than $350M was stolen from
Bitget
’s hot wallets, with the majority of the stolen funds reportedly sitting in ETH.
The stablecoins can be blacklisted and frozen by their issuers, but ETH can’t be frozen in the same way.
This is another example of the very different properties of stablecoins compared with decentralised assets like Ethereum.
I’ll be watching closely to see how much of the stolen funds can ultimately be recovered.$GWEI $APR $NOM
hack.
The move comes after more than $350M was stolen from
Bitget
’s hot wallets, with the majority of the stolen funds reportedly sitting in ETH.
The stablecoins can be blacklisted and frozen by their issuers, but ETH can’t be frozen in the same way.
This is another example of the very different properties of stablecoins compared with decentralised assets like Ethereum.
I’ll be watching closely to see how much of the stolen funds can ultimately be recovered.$GWEI $APR $NOM
