Bitget confirms $352M security breach, suspends withdrawals

Bitget said unauthorized transfers affected a limited number of hot wallets, while cold wallets and most platform assets remained unaffected.

Crypto exchange Bitget has confirmed unauthorized transfers affecting approximately $351.6 million in assets and temporarily suspended withdrawals as it investigates the security breach.

Bitget said its security systems detected the transfers involving a limited number of hot wallets at 18:31 UTC on Thursday, prompting the exchange to activate emergency response procedures.

Bitget CEO Gracy Chen said the breach was contained to a portion of the exchange’s hot and warm wallet layers, while its cold wallets remained secure.

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