$228M Drained from Bitget in Record-Breaking Hack

Crypto exchange Bitget suffered a massive hack on September 24th, resulting in $228 million being drained from its wallets in just 18 minutes. According to blockchain analytics firm Arkham Intelligence, the attackers moved funds across seven different chains, including XRP Ledger, Ethereum, and BNB Chain.

The hack was concentrated in a short window, with $350 million leaving Bitget's wallets between 2:31 pm and 5:23 pm EDT. Of this amount, $228 million left the exchange in just 18 minutes, from 6:58 to 7:16 UTC.

Arkham tracked the stolen funds, which were used by the attackers to buy stablecoins and tokenized gold for ether. The attackers then split their holdings among new addresses, with eight wallets holding approximately $183 million in ether when Arkham posted its account.