Bitget Hacked: $183 Million in Assets Drained from Exchange Wallets
Crypto exchange Bitget has been hit by an apparent hack, with over $183 million in assets drained from its wallets. According to on-chain data, this massive transfer took place within about an hour on Thursday, with roughly $183 million in ETH, USDT, USDC, AVAX, BNB, and other tokens moving from Bitget's wallets to a single address.
The first sign of the hack came when a hot wallet linked to Bitget was used to purchase 7,111 ETH in just six minutes on Arbitrum, paying up to 5% above market price through decentralized exchanges UniswapX and 1inch Fusion. This suspicious trade was flagged by pseudonymous on-chain researcher DCF GOD.
Additional transfers followed, with more wallets linked to Bitget sending assets such as ETH, AVAX, BNB, USDC, USDT, and XAUT to the same address. When this activity started, users reported being unable to withdraw their funds from the exchange, a pattern consistent with an exchange freezing withdrawals while investigating.
Bitget has yet to issue a public statement regarding the hack or confirm whether its protection fund of $300 million will be used to cover losses. The incident serves as a reminder that even large exchanges are not immune to security breaches and emphasizes the importance of protecting one's assets with secure wallets.