BREAKING: Bitget Loses $351.6 Million in Unauthorised Transfers
Bitget CEO Gracy Chen said unauthorised transfers drained roughly $351.6 million from the exchange’s hot wallets on Thursday.
The exchange suspended withdrawals while conducting a security review, saying its $464 million User Protection Fund fully covers the loss.
Blockchain researchers flagged assets moving to a single address, with early suspicion reportedly falling on North Korea’s Lazarus Group.
Bitget said withdrawals were frozen after the transfers were detected and the protection fund covers the full loss.
Bitget CEO Gracy Chen said unauthorised transfers drained roughly $351.6 million from the exchange’s hot wallets on Thursday.
The exchange suspended withdrawals while conducting a security review, saying its $464 million User Protection Fund fully covers the loss.
Blockchain researchers flagged assets moving to a single address, with early suspicion reportedly falling on North Korea’s Lazarus Group.
Bitget said withdrawals were frozen after the transfers were detected and the protection fund covers the full loss.
