Crypto
Bitget Wallet Swaps $19.7M USDT0 for ETH on Arbitrum in Six Minutes
A wallet associated with Bitget moved approximately $19.7 million in USDT0 on Arbitrum and converted it to around 7,111 Ether (ETH) within about six minutes on September 24.
The transactions used UniswapX and 1inch Fusion, decentralized trade-routing services that facilitate swaps across various liquidity sources rather than through a traditional centralized-exchange order book.
Some trades executed at premiums of up to 5% above the prevailing ETH spot price. The available transaction details do not establish whether the transfers were unauthorized.