Circle and Tether step in to freeze hacker wallet after massive Bitget crypto heist
Circle and Tether froze about $318,000 in USDC and USDT tied to the Bitget hack on Sept. 25. The wallet held most of the blocked value in stablecoins, while the larger Bitget-linked haul was mostly in Ether, which these issuers cannot freeze. One traced address also still held 218,000 USDT after the freeze actions, with the funds idle for more than 2½ hours at 8:01 a.m. ET on Sept. 25.
What this rests on
Market reaction
The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.
How the story was built
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Decrypt
echo
Thefts of a similar size
| When | What happened | Figure |
|---|---|---|
| 3.9 years ago | FTX · Phishing incident | $450M |
| 5.8 years ago | OneCoin · Scam incident | $440M |
| 23 days ago | Bitget incident | $351.6M |
| 4.7 years ago | Portal · Signature Verification Flaw incident | $326M |
| 41 days ago | Liquid Network incident | $320M |
4197 incidents stored · 20 were as large as this one or larger ($387.5M)
What could happen next
What the prediction markets currently price as likely. This is context, not a forecast of ours: there is money on it, and that is all we show.