Bitget Hit by $351M Security Breach, Suspends Withdrawals

Bitget, a cryptocurrency exchange, has announced that it has been hit by a security breach resulting in unauthorized transfers of approximately $351.6 million in assets.

The incident was detected at 18:31 UTC on Thursday when Bitget's security systems flagged the transfers involving a limited number of hot wallets.

Bitget CEO Gracy Chen stated that the breach was contained to a portion of the exchange's hot and warm wallet layers, while its cold wallets remained secure.

The exchange has temporarily suspended withdrawals as it conducts a security review and investigates the attack vector.