Bitget Experiences Suspected Hack, $351.6M Moved From Hot Wallets

The crypto exchange Bitget has been hit by a suspected hack, with an estimated $351.6 million moved from its hot wallets. The platform's CEO, Gracy Chen, said that Bitget's security team activated emergency response protocols immediately after detecting the unauthorized transfers.

According to Chen, the exchange operates a three-tier wallet architecture, and the breach only affected a portion of the hot wallet and warm wallet layers. She assured users that their funds are safe, as the cold wallets remained fully secure.

The incident has raised concerns about crypto security, particularly after a string of breaches this year. Chen stated that Bitget will not run from this situation and will provide transparent and full accounting for every dollar and decision made.