Bitget, one of the larger crypto exchanges by trading volume, has confirmed unauthorized transfers draining $351.6 million from a portion of its hot and warm wallets. The incident was detected at 18:31 UTC on Thursday.
Withdrawals are suspended. Law enforcement and onchain security firms are involved, attacker addresses flagged. Cold wallets and the bulk of platform assets, the exchange says, were untouched.
CEO Gracy Chen says the full amount falls within Bitget's User Protection Fund — currently sitting above
$464M. Hourly updates promised; a full root-cause report due within 24 hours.How exactly the wallets were compromised? Still under investigation — and Bitget isn't speculating until it knows.
Via Cointelegraph.