Circle and Tether Freeze Stablecoins Tied to Bitget Hack—But Most Funds Slip Away
60-second summary
Circle and Tether freeze about $318,000 of USDC and USDT in the blacklisted wallet “Bitget Exploiter 8,” but the hacker had already swapped the majority of the assets into unfreezable ETH, evading the lock. The partial freeze highlights issuers’ limited control over cross‑chain moves and underscores ongoing risks for stablecoin liquidity and market confidence.
The two stablecoin issuers blacklisted a wallet labeled "Bitget Exploiter 8," locking about $318,000 in USDC and USDT—but the attacker swapped most funds into unfreezable ETH before they could act.