Bitget Hacked for Over $100 Million in Massive Cryptocurrency Heist
Bitget, a major cryptocurrency exchange, has reportedly been targeted in a significant hacking attack. The alleged incident exceeds $100 million in magnitude, according to recent on-chain activity.
The unusual transactions were observed on the Arbitrum network, where a newly created address purchased 7,111 ETH in just six minutes using approximately 19.67 million USDT from Bitget's hot wallet. This was done via UniswapX and 1inch Fusion, with some purchases paying around 5% above the spot price.
The price of WETH/USDC rose to about $2,870 during these transactions, sparking suspicions that they may not be ordinary market buying. Other on-chain data shows various assets being transferred from Bitget wallets to the same address, including ETH, AVAX, BNB, USDC, XAUT, USDT0, and USDT.