Bitget Loses $351M in Hack, Suspends Customer Withdrawals
Crypto exchange Bitget has been hit by a major hack, losing approximately $351.6 million worth of cryptocurrency. According to CEO Gracy Chen, all user funds remain safe, and the company has covered the losses using its own internal funds.
The incident occurred on Thursday when unauthorized transfers were detected from some of Bitget's wallets, prompting the temporary suspension of customer withdrawals as a security precaution. Chen assured that withdrawals will resume once the issue is resolved, but did not provide a specific timeline.
This hack is not an isolated incident in the crypto world. In 2025, Bybit suffered a massive heist worth $1.5 billion, attributed to North Korean hackers. The FBI also noted that stolen cryptocurrency often gets transferred across borders without using traditional financial systems.