Bitget Suspends Withdrawals After Detecting Unauthorized Transfers

Crypto exchange Bitget has confirmed that it detected unauthorized transfers tied to a security breach and temporarily suspended withdrawals while it investigates.

The incident impacted assets totaling about $351.6 million, affecting a limited set of hot-wallet holdings at the exchange.

'We have identified unauthorized transfers from a small number of our hot wallets,' Bitget CEO Gracy Chen said in a live Q&A session.

Chen added that affected funds were primarily concentrated on Ethereum, with other networks including XRP Ledger, Avalanche, BNB Smart Chain, and Arbitrum also involved.