Bitget Hit by Massive Hack Resulting in $352 Million Loss

Bitget, a cryptocurrency exchange, has suffered a major hack resulting in the unauthorized removal of approximately $351.6 million from its wallets on September 24, 2023.

According to Gracy Chen, CEO of Bitget, the attack targeted a portion of the platform's hot and warm wallets, which are connected to the internet and used for frequent transactions.

The exchange confirmed the incident after analysts identified suspicious activity involving hundreds of millions of dollars in digital assets. Chen stated that the cold wallets, kept in isolated environments, were not compromised and users' funds remain secure.