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Circle Freezes Stolen USDC Assets Linked to Bitget Theft
Circle has frozen addresses associated with stolen funds from the cryptocurrency exchange Bitget, amounting to 100,000 USDC. This action was taken swiftly following reports of the theft, which involved funds that had been idle for over two and a half hours.
On-chain analyst tanuki42 identified an address holding 100,000 USDC and 218,000 USDT, which originated from the initial stolen funds. The freeze was initiated after a public call for action was made to both Circle and Tether.
At 5 PM, crypto researcher SomaXBT confirmed that Circle had successfully frozen the USDC assets. However, as of the latest updates, Tether has not taken any corresponding action regarding the USDT assets linked to the incident.
Source: KLEA News