Bitget Hit with $351M Security Breach

Crypto exchange Bitget has confirmed a significant security breach, affecting approximately $351.6 million in assets. The incident occurred on Thursday at 18:31 UTC when unauthorized transfers were detected involving a limited number of hot wallets.

Bitget's 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. User account balances are accurate, and deposits and trading continue to operate normally.

Bitget has flagged addresses associated with the transfers and contacted law enforcement and onchain security firms.