Bitget Hit by $351.6M Security Breach Affecting Hot Wallets

Bitget, a major cryptocurrency exchange, has confirmed that it suffered a security incident resulting in unauthorized transfers of approximately $351.6 million from hot wallets.

The breach was detected at 18:31 UTC on Thursday and triggered emergency response measures to contain the damage.

Chef Gracy Chen explained that only certain hot and warm wallet layers were affected, while cold wallets remained secure.

Bitget has temporarily suspended withdrawals as part of its security review but assured users that account balances remain accurate and deposits and trading continue normally.