CRYPTO
Circle and Tether Freeze Stablecoins Tied to Bitget Hack—But Most Funds Slip Away
DecryptFriday, September 25, 2026 at 6:42 PM
RedScroll Brief
The two stablecoin issuers blacklisted a wallet labeled "Bitget Exploiter 8," locking about $318,000 in USDC and USDT—but the attacker swapped most funds into unfreezable ETH before they could act.
RedScroll Signal
- Impact
- High
- Category
- Crypto
- Market relevance
- High
- Why it matters
- Crypto moves are a live stress test of liquidity, regulation, and narrative risk. The two stablecoin issuers blacklisted a wallet labeled "Bitget Exploiter 8," locking about $318,000 in USDC and USDT—but the attacker swapped most funds into unfreezable ETH before they could act. Watch liquidity and volatility around Circle and Tether Freeze Stablecoins — crypto markets reprice narrative risk quickly.
Desk copy
RedScroll Briefing
Extractive editorial brief — not a reprint of the original
What happened
The two stablecoin issuers blacklisted a wallet labeled "Bitget Exploiter 8," locking about $318,000 in USDC and USDT—but the attacker swapped most funds into unfreezable ETH before they could act.
Why it matters
Crypto moves are a live stress test of liquidity, regulation, and narrative risk.
Background
Decrypt reported on this under crypto. RedScroll surfaces the signal with an extractive brief — not a reprint of the original article. Read the source for full reporting.
Timeline
Decrypt published: Circle and Tether Freeze Stablecoins Tied to Bitget Hack—But Most Funds Slip Away
Story is in today’s RedScroll edition. Follow the original source for updates.
Economic impact
Watch liquidity and volatility around Circle and Tether Freeze Stablecoins — crypto markets reprice narrative risk quickly.
More on
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Source
Decrypt
Original reporting by Decrypt. RedScroll provides an extractive briefing only.