$388M Stolen from Bitget Hacked: Funds Diverted to Binance Smart Chain

Bitget, a cryptocurrency exchange, was hacked last month resulting in the theft of $388 million. According to CryptoRank, an analysis of the stolen funds shows that they have been moved into various wallets and exchanges.

The majority of the stolen funds, approximately 75%, are currently stored on Binance Smart Chain, with smaller amounts held on other platforms such as Ethereum and Polygon.

The exact locations of the stolen funds and their potential destinations remain unclear. Analysts at CryptoRank speculate that some of the funds may have been laundered or used to purchase real estate or other assets.