Bitget Exchange Hit with Possible $170M Hack Amid Withdrawal Woes

Bitget, a cryptocurrency exchange, is reportedly facing a security breach after users experienced withdrawal issues and on-chain data showed over $176 million in assets moving from exchange-linked wallets.

The funds were transferred within about 20 minutes, with several hot wallets and at least one cold wallet sending assets to an unknown address, 0x770b...63Ee. This address received a variety of cryptocurrencies, including ETH, AVAX, BNB, USDT, USDC, and XAUT.

Users on social media have reported being unable to withdraw their funds from Bitget, adding to speculation about the exchange's security.