Bitget Hacked: $351.6 Million Lost in Exchange Breach

Bitget, a cryptocurrency exchange, has been hacked, resulting in losses of $351.6 million from hot and warm wallets. The breach occurred on September 24 at 18:31 UTC and was detected within minutes.

The exchange's CEO, Gracy Chen, stated that customer balances remain accurate and the losses are covered by Bitget's User Protection Fund, which currently holds more than $464 million.

Bitget has suspended withdrawals pending a security review, but deposits and trading continue to operate normally. The exchange plans to provide hourly updates and publish a full incident report within 24 hours, including the root cause and corrective measures.