Bitget Confirms $351.6 Million Hot Wallet Breach, Suspends Withdrawals
- Unauthorized transfers from hot wallets were flagged on September 24th, totaling $351.6 million.
- Cold wallets remained secure, with the majority of assets unaffected.
- Withdrawals are temporarily suspended while a security review is conducted.
- Bitget’s User Protection Fund currently holds over $464 million to safeguard user funds.
The exchange activated emergency protocols and engaged law enforcement as soon as the breach was detected. While most services continue to operate normally, the suspension of withdrawals is a precautionary measure to ensure user safety during the investigation into this significant hot wallet breach.
User account balances remain accurate and trading continues uninterrupted despite the incident. The exchange aims to restore withdrawal services promptly once it is deemed safe to do so. (Source)
