Bitget Hack: $351.6 Million Affected in Hot Wallet Exploit
Bitget paused withdrawals after hackers drained hot wallets for about $351.6 million (USD). Here is the confirmed timeline, the on-chain trail, and what happens next.
If exchanges keep absorbing losses through insurance funds and peer-to-peer loans, does that build genuine resilience across the industry, or does it just delay a reckoning over how much of crypto custody still depends on centralized hot wallets, where a single compromised key or manipulated interface can drain hundreds of millions of dollars within minutes, and who ultimately pays when it happens again?
https://www.bonuz.xyz/en/blog/bitget-hack-351-million-hot-wallet-exploit
Bitget paused withdrawals after hackers drained hot wallets for about $351.6 million (USD). Here is the confirmed timeline, the on-chain trail, and what happens next.
If exchanges keep absorbing losses through insurance funds and peer-to-peer loans, does that build genuine resilience across the industry, or does it just delay a reckoning over how much of crypto custody still depends on centralized hot wallets, where a single compromised key or manipulated interface can drain hundreds of millions of dollars within minutes, and who ultimately pays when it happens again?
https://www.bonuz.xyz/en/blog/bitget-hack-351-million-hot-wallet-exploit
