Bitget Hit by $183M Hack as Funds Vanish Overnight
Bitget, a large centralized trading platform, has reportedly been hacked after approximately $183 million in various cryptocurrencies and tokens was moved from its wallets to a single address. The unusual activity began on Thursday evening when a hot wallet labeled as Bitget's sent $19.67 million worth of USDT0 to a newly created address.
The funds were then used to buy 7,111 ETH through decentralized exchanges UniswapX and 1inch Fusion at a premium price of up to 5% above market rate. This transaction was followed by additional transfers from other Bitget wallets tagged as containing various assets such as AVAX, BNB, USDC, USDT, and XAUT.
The suspicious activity has sparked concerns among analysts and users who report blocked withdrawals. However, representatives for Bitget have yet to confirm the incident or provide a statement.