Circle freezes $100k USDC from Bitget-linked address
USDC (USDC)
Editor:
Eugene Serbin
lookonchain.com reports that Circle has frozen $100,000 worth of USDC from an address linked to stolen Bitget funds. SomaXBT, a contributor to the Security Alliance, noted that the address also holds approximately 218,000 USDT. This address is identified as a three-hop link to Bitget’s initial stolen funds and remained untouched for over 2.5 hours after detection.
Crypto KOL tanuki42 launched a tracking initiative to see which firm would freeze assets first. Circle has now taken the lead by freezing the USDC portion of the holdings. The community is calling on Tether to follow suit and freeze the remaining USDT.
The address has been dormant for over 2.5 hours prior to this action. This move highlights the ongoing competition between issuers in managing stolen assets.
How the market reacted
Whalio's own Binance spot order flow for USDC, measured when this story was written up on 25 September 2026. Not the outlet's figures.
USDC trades at $1.00 with a 1-hour buy ratio of 49.6%, slightly below the 24-hour ratio of 50.3%. Volume delta shows -$212,076 in the last hour but +$2,697,945 over four hours, indicating short-term selling pressure against longer-term accumulation. The 24-hour volume delta is +$15,205,970, while cumulative volume delta closes at -$37,692,347. This suggests that while recent hours saw net outflows, the broader trend remains net buying. Spot volume reached $2,984,297,406 with 586,113 trades in 24 hours. Buying pressure appears to be stabilizing after a brief dip in the immediate short term.
The latest daily buy ratio of 50.2% sits at the 73rd percentile of the last 322 days, against a median of 48.4% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for USDC, averaged over the days leading up to the story.
Over the preceding week, the buy ratio averaged 49.8%, with today’s reading just 0.4 points higher than the average. Volume was 1.03 times the average, indicating a slightly busier than usual trading day. The 8-day volume delta totaled +$21,567,390, showing consistent net inflows over the period. Price remained stable at 0.0% change over eight days. This represents an ordinary day for the coin, with volume slightly above average but no significant deviation in buying behavior.