Bitget Hack Drains Over 102M XRP Worth $157.48M

The cryptocurrency market was dealt a significant blow as Bitget, a major exchange, suffered a massive security breach. Over 102.9 million XRP worth $157.48 million were drained from the exchange in the hack, with the attackers manipulating transaction data and spoofing automated withdrawal systems to move the funds.

The attack, which was detected on September 24 at 18:31 UTC, also affected other assets including ETH (31,890 units), USDT (19.67 million units), USDC ($21.06 million), BNB (12,719 units), AVAX (821,012 units), and TRX (20.59 million units).

The Bitget CEO Gracy Chen stated that the exchange detected unauthorized transfers immediately and activated its emergency response, temporarily suspending withdrawals.