Bitget Exchange Faces Potential Hack with $183 Million in Crypto Missing
- Approximately $183 million in ETH, USDT, USDC, AVAX, BNB, and other tokens were moved from Bitget wallets to a single address within an hour.
- A new wallet spent $19.67 million in USDT0 to purchase 7,111 ETH on Arbitrum through decentralized exchanges UniswapX and 1inch Fusion, paying up to a 5% premium.
- Users reported blocked withdrawals from the exchange, but Bitget has not released any public statements confirming the hack.
- On-chain analysts Bubblemaps and Arkham flagged the suspicious activity as potentially indicative of a hack.
- The outflows ceased approximately six minutes after the first suspicious trade, suggesting a possible freeze on withdrawals by Bitget for investigation.
Blockchain data suggests that significant funds were transferred from Bitget’s hot wallets to a newly created address in what appears to be an unauthorized transaction spree involving multiple cryptocurrencies. The rapid movement of assets and subsequent blockage of withdrawals have raised concerns among users and analysts alike.
The incident highlights vulnerabilities within centralized exchanges like Bitget, emphasizing the importance of security measures amidst increasing threats from hackers targeting crypto platforms. (Source)
