Stablecoin Issuers Freeze Funds After Bitget Crypto Heist

2026-09-27

Circle and Tether have frozen a cryptocurrency wallet containing approximately $318,000 in USDT and USDC following a significant heist at the Bitget exchange. The majority of the stolen assets remain in ether.

VERA Brief

AI-generated. Grounded in the article and its cited sources.

Stablecoin issuers Circle and Tether have frozen a cryptocurrency wallet containing approximately $318,000 in USDT and USDC following a heist at the Bitget exchange. This action demonstrates the issuers' capacity to respond to illicit activities, though it is limited to specific cryptocurrencies.

Key facts

Circle and Tether froze a cryptocurrency wallet containing USDT and USDC.
The frozen funds are associated with a heist at the Bitget exchange.
Most of the stolen funds are in ether and cannot be frozen by these entities.
Stablecoin issuers can play a role in responding to illicit activities in the digital asset ecosystem.

Source: CoinDesk

Reported by VERA Newswire.