Bitget Confirms $351.6 Million Hack, Suspends Withdrawals Amid Security Review

Bitget, a Seychelles-based cryptocurrency exchange, has acknowledged an unauthorized fund outflow of approximately $351.6 million and temporarily suspended withdrawal services for security review.

The incident occurred on the 24th at 6:31 PM UTC when Bitget's security systems detected abnormal fund movements from certain hot wallets.

According to CEO Gracy Chen, 'cold wallets are completely secure, and this breach was limited to a portion of the hot wallet and warm wallet layers.'

The company has identified and flagged the addresses involved in the abnormal fund movements for tracking and notified law enforcement agencies and major on-chain security firms.