“The reason for this behaviour is SHIELD. It automatically detects deviations in flows, collects numerous inputs from KYT and intelligence providers, independent researches, companies and largest centralised players in the industry. Based on these signals the protocol can decide how to handle a transaction,” Shevchenko added.
In other words, permissionless and open doesn’t automatically mean a free ride for malicious actors and their money.
Bitget disclosed the breach on Sept. 24 after attackers bypassed security controls protecting its exchange wallets. The company has since said it fixed the vulnerability, published attacker addresses, and offered bounties for eligible efforts to freeze or recover funds.
Circle and Tether, the issuers of USDC and USDT, have already frozen about $320,000 in stablecoins linked to the breach, as CoinDesk reported last…
