Bitget Sees Record-Breaking Customer Outflows Following Hack

Bitget, a cryptocurrency exchange hit by a hack last week, has seen a massive customer outflow of $463 million in just 24 hours. This is the largest one-day net outflow since data aggregator DefiLlama began tracking proof-of-reserves four years ago.

The exchange started restoring withdrawals on Tuesday, starting with Bitcoin and followed by Ether and USDT. The move came after Bitget was hit by a $388 million theft last week.

Bitget currently holds about $5.7 billion in reserves. This development has sparked concerns among investors, who are rushing to withdraw their assets from the platform.