Circle and Tether Freeze Stablecoins Tied to Bitget Hack—But Most Funds Slip Away

Crypto Insight Summary: 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. Crypto Insight Analysis: Direction: Bearish USDC / Bearish USDT / Neutral ETH Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Stablecoin freezing raises trust concerns but limited funds involved.