Bitget Halts Withdrawals After $352M Security Breach
Crypto exchange Bitget has reported a significant security breach after its security systems flagged suspicious activity involving a limited set of hot wallets around 18:31 UTC on Thursday. The incident affected approximately $351.6 million worth of assets, and the exchange has temporarily suspended withdrawals while it investigates.
According to Bitget CEO Gracy Chen, the breach was contained to a portion of the exchange's hot and warm wallet infrastructure, while its cold wallets remained secure. Chen emphasized that only a limited number of hot wallets were involved in the unauthorized transfers.
The affected assets included Ether (ETH), XRP (XRP), USDt (USDT), USDC (USDC), Avalanche (AVAX), BNB (BNB), and USDT0 (USDT0) on Arbitrum. Chen pointed out that Ethereum accounted for the main concentration of the observed stolen funds.
Bitget has stated that customer balances remain accurate, and deposits and trading continue normally. The exchange expects withdrawals to resume within hours or days, and it is working with law enforcement and onchain security firms to investigate the breach.