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Circle and Tether freeze $318,000 in stablecoins from Bitget hacker wallet after $351.6M heist
The stablecoin issuers blacklisted a wallet holding about $318,000 in USDT and USDC, though this amount is a small fraction of the total $351.6 million stolen from Bitget. Most of the stolen funds are in Ether (ETH), which cannot be frozen by issuers. Bitget CEO Gracy Chen stated that attackers compromised a backend system, spoofing transaction data to move funds, and ruled out a private key compromise. Bitget's user protection fund, holding over $464 million, covers the loss.
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