Bitget Hack: Circle and Tether Freeze Small Portion of Stolen Funds

A major cryptocurrency exchange, Bitget, was hacked on Thursday, resulting in the theft of approximately $387.5 million. The hack occurred at around 18:31 UTC and was discovered by security firm MistTrack.

Circle, one of the issuers of stablecoins, blacklisted an address linked to the hack on Friday at 05:00 UTC. This address held a small portion of the stolen funds, totaling $318,000 in USDT and USDC.

Tether also banned the same wallet shortly after Circle's action. However, the majority of the loot remains out of reach for authorities, with over $63,000 worth of ETH still unaccounted for.