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International Business Times UK
International Business Times UK
Seneca Cabrera

Bitget Hit by $351.6M Hack, Exchange Freezes Withdrawals as $464M Fund Covers Loss

Bitget Crypto Gracy Chen Liquid
Crypto exchange Bitget says $351.6M was affected in a wallet breach (Photo for illustration purposes only) (Credit: DS Stories/Pexels)

Seychelles-based cryptocurrency exchange Bitget has suffered a security breach involving approximately $351.6 million (£263 million) in unauthorised transfers from part of its hot and warm wallet infrastructure.

The exchange temporarily suspended withdrawals after detecting the transfers across multiple blockchain networks, while deposits and trading remained operational. Bitget said its cold wallets remained secure and that customer account balances were unaffected.

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