Circle and Tether step in to freeze hacker wallet after massive Bitget crypto heist
The stablecoin issuer blacklisted a wallet holding about $318,000 in USDT and USDC. Most of the stolen funds sit in ether, which can’t be frozen.
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Summary
- Circle and Tether froze a Bitget exploiter wallet holding about $318,000 in stablecoins after Thursday’s $351.6 million hack.
- The freeze covers only a small part of the stolen funds. Other exploiter addresses still hold more than 63,000 ETH, which no issuer can freeze.
- Circle acted faster this time than after April’s Drift hack, when critics said it let about $232 million in stolen USDC move across chains without stepping in.
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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
