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Crypto

Bitget Freezes Withdrawals After $351 Million Stolen in Hack

Guavy AI Editorial Team
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Crypto exchange Bitget has suspended customer withdrawals after discovering unauthorized transfers of approximately US$351.6 million from its wallets on Thursday.

The company, which has over 120 million users, stated that all user funds are safe and the loss is covered by Bitget's own funds.

In a statement, Gracy Chen, CEO of Bitget, said 'Withdrawals remain temporarily suspended as a security precaution, not because of any shortfall in funds.'

The incident comes on the heels of last year's hack of Bybit, which saw US$1.5 billion stolen.

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