Bitget Hacked for Nearly $352 Million in Massive Exchange Breach

A massive breach at Bitget, one of the world's top exchanges by derivatives volume, has left nearly $352 million in losses. The hack occurred on September 24, when a security team detected unusual withdrawal activity at 18:31 UTC.

Within an hour, funds started leaving hot wallets across multiple blockchains, with some assets being converted into ether within minutes. This pattern is consistent with earlier North Korea-linked heists, where speed determines how much of the haul survives freezing attempts.

Bitget's CEO Gracy Chen confirmed the breach and stated that cold wallet reserves and customer balances remained untouched. The exchange has paused withdrawals while deposits and trading continue.