Bitget Halts Withdrawals After Massive Crypto Heist
Bitget, one of the world's largest cryptocurrency exchanges, has temporarily suspended withdrawals after detecting unauthorized transfers from its wallets. The exchange said it would cover the losses from its own reserves and that customers' funds were safe.
The incident occurred on Thursday, September 24, when Bitget detected the unauthorized transfers. According to CEO Gracy Chen, the company then temporarily suspended withdrawals for security reasons, not because of a lack of funds.
Chen assured users that their funds were intact and would be covered by the exchange's own reserves. On Friday, September 25, she confirmed this in a written response.
Bitget has more than 120 million users and has been investigating the circumstances of the incident.