Bitget Freezes Withdrawals for All Assets After $165M Transfer

Bitget, a cryptocurrency exchange platform, has taken drastic measures to restrict user activity. According to its public API, withdrawals have been disabled for all assets listed on the platform. This move comes after $165 million in funds were transferred to a single address.

The exchange's decision to disable withdrawals affects over 4,930 asset-network entries, while deposits and spot trading remain unaffected.

This action has sparked concern among users, who are now unable to withdraw their funds from the platform. The exact reasons behind Bitget's decision have not been disclosed.