Bitget Confirms $351.6 Million Hot Wallet Breach and Suspends Withdrawals

Bitget reported an unauthorized transfer of approximately $351.6 million from its hot and warm wallet infrastructure. The exchange stated that cold wallets remain secure and customer balances are unaffected. The company plans to cover the losses using its $464 million User Protection Fund. Withdrawals are temporarily paused while the exchange works with law enforcement and security firms to investigate the incident.