Circle · Tether · Ethereum · Bitcoin · CoinDesk
Circle and Tether step in to freeze hacker wallet after large Bitget crypto heist
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Circle and Tether have frozen stablecoins in a wallet linked to Thursday's $351.6 million Bitget hack, though the amount is a small fraction of the total.
Key facts
- The wallet holds about 170.47 ETH, 218,023 USDT and 99,990 USDC
- Circle blacklisted the address, which Etherscan labels "Bitget Exploiter 8," at 05:00 UTC Friday, onchain data shows
- In that case, the attacker moved about $232 million in USDC from Solana to Ethereum using Circle's own cross-chain transfer protocol
- Chen said Bitget's user protection fund, which holds over $464 million, covers the loss
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. 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. Circle blacklisted the address, which Etherscan labels "Bitget Exploiter 8," at 05:00 UTC Friday, onchain data shows.