Bitget Faces Potential Hack as Over $170 Million in Assets Potentially Stolen

The cryptocurrency exchange Bitget is facing a potential hack, with unusual on-chain activity raising suspicions of an attack. High-value assets have been transferred out of the exchange's hot and cold wallets, with a significant portion being converted to Ethereum (ETH).

A notable transaction occurred on the Arbitrum network, where a newly created address purchased 7,111 ETH in six minutes using approximately 19.67 million USDT0 from a Bitget hot wallet.

Subsequent on-chain movements suggest the incident may not be limited to a single network or wallet. Three hot wallets and one cold wallet belonging to Bitget are believed to have been affected, with various assets being moved from these wallets.