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      Bitget Exchange Suspected of Hack as $183 Million in Assets Flow Out

      On September 24, significant on-chain activity suggested that Bitget, a cryptocurrency exchange, may have been the target of a hacking incident. Analysts from Bubblemaps and Arkham reported that approximately $183 million in crypto assets were transferred from a wallet associated with Bitget to a newly created address. The outflow involved various tokens, including Ethereum (ETH), Tether (USDT), USD Coin (USDC), Avalanche (AVAX), Binance Coin (BNB), and Tether Gold (XAUT).

      The suspicious transactions began with a hot wallet, where $19.67 million in USDT was utilized within six minutes to acquire 7,111 ETH at a price approximately 5% higher than the market rate. Following this initial transaction, additional transfers of ETH, AVAX, BNB, USDC, USDT, and XAUT were made to the same address. The activity ceased shortly after the first transaction, with no further outflows for at least 20 minutes.

      Users reported that their withdrawal capabilities were blocked, raising concerns about the security of their assets. As of now, Bitget has not released a public statement regarding the incident and has not responded to requests for comment. Despite the outflow, on-chain analysts noted that Bitget's marked wallets still contain around $500 million in assets. In 2023, the exchange established a $300 million protection fund aimed at covering losses from hacks and thefts.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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