$351 million walked out of Bitget. Almost none of it was frozen by the asset issuers.
Our August piece on why issuers need to automate that decision is becoming increasingly relevant.
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Bad look for Circle.
The Bitget hacker stole $350M today, and a part of these funds was in USDC.
Circle had the possibility to freeze these funds as USDC is centralized, but it chose to do nothing.
That says a lot about how much Circle cares about saving user funds.
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