Circle And Tether Freeze Bitget Exploiter 8 Wallet After $351.6 Million Hack: 14 outlets compared

Freeze After Bitget Heist

Circle and Tether froze a wallet linked to Thursday's $351.6 million Bitget hack, blacklisting a wallet holding about $318,000 in stablecoins. Circle blacklisted the address labeled "Bitget Exploiter 8" at 05:00 UTC Friday, and the wallet held about 170.47 ETH, 218,023 USDT and 99,990 USDC. MistTrack said Tether has since banned the wallet too, leaving roughly $318,000 in stablecoins stuck.

MistTrack's tracker showed other exploiter addresses still holding more than 63,000 ETH, which no issuer can freeze. Bitget CEO Gracy Chen said attackers compromised a backend system in the exchange's wallet infrastructure, spoofed transaction data and triggered its authorization process to move funds out.

Withdrawals Paused, Losses Shift

Bitget stopped allowing customer withdrawals after the theft of crypto worth approximately $351.6 million in a hack, while Gracy Chen said all user funds were safe. Chen told Reuters, "Withdrawals remain temporarily suspended as a security precaution, not because of any shortfall in funds," and Bitget said the loss was covered by its own funds. Bitget disclosed on the 25th that digital assets drained in the hack are estimated at approximately $387.5 million, and the exchange planned to announce its withdrawal resumption schedule by 1 p.m. on the 26th.