Bitget Exchange Hacked for Over $351M in Cryptocurrency

Bitget, a Singapore-based cryptocurrency exchange, has been hacked resulting in a loss of over $351 million worth of digital assets. The hack is believed to have taken place on February 4, with the exact circumstances and extent of the breach still unclear.

The incident has left investors concerned about the security measures in place at Bitget, which claims to have implemented multi-signature wallets and other safeguards to protect user funds.

Bitget's statement acknowledges the hack but does not provide further details. The exchange has promised to cooperate with law enforcement and take all necessary steps to address the situation.