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Crypto

$351M Hack Hits Bitget: Exchange Temporarily Halts Withdrawals Amid Security Concerns

Guavy AI Editorial Team
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Bitget, a Seychelles-based cryptocurrency exchange, has been hit by a significant hack that saw approximately $351.6 million transferred from its hot and warm wallets.

The unauthorized transfer has led to a temporary halt on withdrawals as a precautionary measure, while deposits and trading functions remain available.

Despite the breach, Bitget's CEO Gracy Chen has assured users that their funds are safe, citing the exchange's User Protection Fund which reportedly exceeds $464 million.

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