Circle and Tether have taken action against a wallet linked to the major cryptocurrency theft from Bitget, according to CoinDesk. The wallet contained approximately $318,000 in combined USDT and USDC, the stablecoins issued by the two companies. While those assets can be restricted at the issuer level, most of the funds taken in the incident are held in ether (ETH), which cannot be frozen through the same mechanism. The development highlights the differing recovery options available for stolen crypto assets, depending on the type of token involved. Stablecoins such as USDT and USDC are centrally managed and can be blacklisted, while ether operates on a decentralized network without an issuer able to block individual holdings. The action affects the identified wallet but does not address the larger portion of the stolen assets held in ETH.
