Circle and Tether freeze $318K in stablecoins linked to Bitget hack

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Circle and Tether have intervened following a major cryptocurrency theft on the Bitget exchange by blacklisting a hacker-linked wallet. The frozen wallet contained approximately $318,000 worth of USDT and USDC stablecoins. The two stablecoin issuers acted by exercising their ability to block transactions from the flagged address. However, the majority of the stolen funds were held in Ether, a cryptocurrency that cannot be frozen by any central authority, limiting the effectiveness of the intervention.

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