Bitget Faces Suspected $177M Wallet Breach

Crypto exchange Bitget is facing an on-going security breach, with over $177 million moved out of its wallets linked to the exchange in a matter of hours. The attack vector remains unknown, and the exchange has yet to comment.

On-chain monitors reported that three hot wallets and one cold wallet were compromised, with assets swapped into Ether (ETH) on Thursday. The receiving address, created just before 19:05 UTC, had already made its first transaction within an hour and was forwarding funds onward.

The exchange's affected wallets still hold roughly $530 million, but the total amount moved is not a final figure. Funds are arriving and being pushed onward, with blockchain intelligence firm Arkham setting up an entity page to track the flows.