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Basis Desk

Evening wrap · September 30, 2026

Bitget Suffers $351.6M Hot Wallet Breach Linked to North Korea

The crypto market faced its largest exploit of 2026 as a $351.6 million hot wallet breach hit exchange Bitget, while European regulators and US lawmakers ramped up pressure on stablecoins and decentralized finance.

  1. 1

    Bitget Hit by $351.6M Hot Wallet Breach Linked to North Korean Hackers

    Attackers manipulated internal authorization data across seven networks on Sept. 24 to trigger unauthorized transfers. Bitget stated its $464 million protection reserve covers the loss, which is the largest crypto heist of 2026.

  2. 2

    Senator Blumenthal Demands Federal Probe Into Tether Over Iran Sanctions Ties

    A Senate PSI report revealed that 84% of 846 sanctioned Iran-linked wallets transacted almost exclusively in $USDT. Senator Richard Blumenthal formally urged the DOJ and Treasury to investigate Tether for potential violations.

  3. 3

    ESMA Proposes Bringing DeFi, Staking, and Lending Under MiCA Framework

    The EU market regulator advised the European Commission to target non-compliant stablecoins, third-country solicitation, and influencer promotions, while simplifying white-paper filings for compliant firms.

  4. 4

    Stripe Integrates Open USD to Provide Fee-Free Stablecoin Conversions

    Backed by Coinbase, Mastercard, Shopify, and Visa, the Open Standard project launched $OUSD on Stripe. The integration eliminates mint and burn fees for converting between fiat and stablecoins.

  5. 5

    CSD BR Partners With Ripple to Mirror BTG Pactual Fund Shares on XRPL

    The Brazilian central securities depository will use the XRP Ledger to mirror investment fund shares. The deployment uses the Multi-Purpose Token standard and Ripple custody for verified corporate participants.

  6. 6

    Base Details Cobalt Hardfork Upgrades for Administrative Token Seizures

    The upcoming Cobalt upgrade introduces administrative balance reassignment and multi-policy authorization rules for asset issuers, allowing native confiscation of funds to treasuries on an opt-in basis.

Numbers

Bitcoin traded flat at $83,592, while Ether slipped 0.4% to $2,679, and the total crypto market capitalization declined 0.6% to $2.84 trillion.

Watch

Movement of the dormant ETH and XRP wallets holding the bulk of the stolen Bitget funds. · Responses from Treasury Secretary Scott Bessent and Attorney General Todd Blanche regarding a formal Tether investigation. · The European Commission's response to public feedback on the MiCA review consultation, which closes on Aug. 31.

Full text

The crypto market faced its largest exploit of 2026 as a $351.6 million hot wallet breach hit exchange Bitget, while European regulators and US lawmakers ramped up pressure on stablecoins and decentralized finance.

  1. Bitget Hit by $351.6M Hot Wallet Breach Linked to North Korean Hackers Attackers manipulated internal authorization data across seven networks on Sept. 24 to trigger unauthorized transfers. Bitget stated its $464 million protection reserve covers the loss, which is the largest crypto heist of 2026.

  2. Senator Blumenthal Demands Federal Probe Into Tether Over Iran Sanctions Ties A Senate PSI report revealed that 84% of 846 sanctioned Iran-linked wallets transacted almost exclusively in $USDT. Senator Richard Blumenthal formally urged the DOJ and Treasury to investigate Tether for potential violations.

  3. ESMA Proposes Bringing DeFi, Staking, and Lending Under MiCA Framework The EU market regulator advised the European Commission to target non-compliant stablecoins, third-country solicitation, and influencer promotions, while simplifying white-paper filings for compliant firms.

  4. Stripe Integrates Open USD to Provide Fee-Free Stablecoin Conversions Backed by Coinbase, Mastercard, Shopify, and Visa, the Open Standard project launched $OUSD on Stripe. The integration eliminates mint and burn fees for converting between fiat and stablecoins.

  5. CSD BR Partners With Ripple to Mirror BTG Pactual Fund Shares on XRPL The Brazilian central securities depository will use the XRP Ledger to mirror investment fund shares. The deployment uses the Multi-Purpose Token standard and Ripple custody for verified corporate participants.

  6. Base Details Cobalt Hardfork Upgrades for Administrative Token Seizures The upcoming Cobalt upgrade introduces administrative balance reassignment and multi-policy authorization rules for asset issuers, allowing native confiscation of funds to treasuries on an opt-in basis.

Numbers

Bitcoin traded flat at $83,592, while Ether slipped 0.4% to $2,679, and the total crypto market capitalization declined 0.6% to $2.84 trillion.

Watch

  • Movement of the dormant ETH and XRP wallets holding the bulk of the stolen Bitget funds.
  • Responses from Treasury Secretary Scott Bessent and Attorney General Todd Blanche regarding a formal Tether investigation.
  • The European Commission's response to public feedback on the MiCA review consultation, which closes on Aug. 31.

Basis Desk Newsroom · AI-generated, source-verified. Built only from stories already verified and published on Basis Desk; market figures as of publication. Not financial advice.