Circle and Tether Freeze Stablecoins Linked to Reported Bitget Hack
A wallet linked to the reported Bitget theft held roughly $318,000 in USDT and USDC, but most of the stolen assets were in ether.
Circle and Tether blacklisted a wallet linked to a reported crypto theft involving Bitget, according to CoinDesk. The wallet contained approximately $318,000 in USDC and USDT.
The issuers’ action restricted movement of the stablecoins held at that address. The reported amount represents the combined USDC and USDT holdings, not the total value stolen.
Most of the stolen funds were held in ether, placing them beyond the reach of the stablecoin issuers’ freezing powers. The blacklist therefore affected only a portion of the stolen assets.
Source: CoinDesk
