Bitget Hit by Massive Crypto Drain Affecting Over $350 Million
Bitget, a cryptocurrency exchange, detected unauthorized transfers from its hot- and warm-wallet infrastructure on September 24 at 2:31 p.m. ET (18:31 UTC).
The affected assets included approximately $157.48 million in XRP tokens, making it the largest single asset listed in the incident.
The total estimated funds affected was around $351.6 million, with separate assets totaling approximately $356.86 million due to a different valuation snapshot.
Other listed assets included 31,890 Ether (ETH), valued at approximately $85.75 million, as well as Tether (USDT), USD Coin (USDC), USDT0, Tether Gold (XAUt), BNB, Avalanche (AVAX) and TRON (TRX).
Bitget's cold wallets remained unaffected, with withdrawals temporarily suspended while deposits and trading continued. The exchange also stated that its User Protection Fund held more than $464 million, exceeding the estimated affected funds.