Binance Teams Up with Bitget to Track $351.6M Stolen Funds

Binance has joined forces with Bitget to track and recover stolen funds after a security incident left an estimated $351.6 million in losses.

The cooperation between Binance and Bitget is ongoing, according to Binance co-CEO Richard Teng, who emphasized the importance of industry coordination in responding to attackers.

During the investigation, Bitget paused withdrawals while deposits and trading continued. The company has since enlisted the help of Mandiant and SlowMist to investigate the incident.

The affected assets included Ether (ETH), XRP, BNB, Avalanche (AVAX), Tether (USDT), USD Coin (USDC) and other tokens, which were involved in various blockchain networks such as Ethereum, the XRP Ledger, Arbitrum, Avalanche, Optimism, BNB Smart Chain and Base.

All on-chain cold wallets were confirmed safe, with Binance's security team and Bitget continuing to share intelligence and track the movement of the stolen funds.