Crypto
Tether Freezes $218M USDT Linked to Bitget Hack
Tether has taken action against funds linked to a recent security incident at Bitget. On September 25, at 8:19 a.m. ET (12:19 UTC), Tether froze 218,022.966977 USDT tied to the incident after it passed through the monitored address 0xe07b...7d57.
This move comes in addition to Circle's earlier action on September 25 at 5 a.m. ET (09:00 UTC) when they froze around 100,000 USDC tied to the same incident.
The funds in question were moved after the attacker exchanged stolen TRX for USDT in batches. The USDT would typically remain at this controlled address for about one to eight minutes before being routed through Stargate or sent directly into THORChain for conversion into Bitcoin (BTC).