Bitget Wallets See Massive Transfer of $183 Million Across Chains

On September 17th, an estimated $183 million moved from wallets associated with Bitget to newly created addresses across various blockchains. The activity lasted approximately one hour and involved Ether (ETH), USDT0, USD Coin (USDC), Avalanche (AVAX), BNB, and tokenized gold.

The transfers were facilitated through a single destination, based on public blockchain transactions. A newly created Arbitrum wallet used $19.67 million in USDT0 to purchase 7,111 ETH within six minutes through UniswapX and 1inch Fusion. The trades were executed at up to 5% above prevailing market prices.

Following the trading activity, outflows from the Bitget-labeled wallets ceased about six minutes after the transactions. These wallets still held roughly $500 million in assets.