Bitget Confirms $351 Million Security Breach, Suspends Withdrawals During Investigation
Bitget confirmed a $351.6 million breach affecting hot and warm wallets and suspended withdrawals, Cointelegraph reported.
Why it matters
A $351.6 million loss at an Asia-focused exchange raises questions about wallet security controls at major exchanges, though the incident is reported by only one outlet so far and key details, including the attack method and any recovery, remain unclear.
Key facts
Bitget confirmed unauthorized transfers affecting approximately $351.6 million in assets.
351,600,000 USDReported by Cointelegraph
Bitget temporarily suspended withdrawals while investigating the breach.
Reported by Cointelegraph
Bitget CEO Gracy Chen said the breach was contained to a portion of the exchange's hot and warm wallet layers, while cold wallets remained secure.
Reported by Cointelegraph
Bitget said it flagged addresses associated with the transfers and contacted law enforcement.
Reported by Cointelegraph
What happened
Cointelegraph reported that crypto exchange Bitget confirmed unauthorized transfers totaling approximately $351.6 million and temporarily suspended withdrawals while it investigates. Bitget CEO Gracy Chen said the breach was contained to a portion of the exchange's hot and warm wallet layers, and that its cold wallets remained secure. Bitget said it has flagged the addresses associated with the transfers and contacted law enforcement. The article does not specify how the breach occurred or whether funds have been recovered, and only one outlet has reported the incident so far.
How the story developed
- First report
First report by Cointelegraph
Asia dominates Crypto Adoption Index, Bitget’s $351M hack: Asia Express
- Official statement
Bitget confirms $351M breach and suspends withdrawals
Bitget confirmed unauthorized transfers of about $351.6 million, said the breach hit hot and warm wallets, and suspended withdrawals during its investigation.
Affected entities
Also mentioned: Nasdaq, China, Japan, India, Chainalysis, Coinbase
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Cointelegraph Crypto media | Asia dominates Crypto Adoption Index, Bitget’s $351M hack: Asia Express | Original |
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