Bitget is potentially hacked as more than $183 million leaves wallets

More than $183 million in crypto assets moved from wallets belonging to Bitget in an apparent hack. Bitget has not confirmed the exploit. On-chain sleuths, including Bubblemaps and Arkham analysts, flagged the unusual activity late Thursday. Within about an hour, roughly $183 million in assets moved into a newly created address. Users reported blocked withdrawals. On-chain analysts said Bitget-labeled wallets still held roughly $500 million. The first suspicious transfer came from a hot wallet. An address beginning with 0xe410 took $19.67 million worth of USDT0 and swapped it for 7,111 ETH in six minutes. Reports indicated that the purchase ran through UniswapX and 1inch Fusion. The orders paid roughly 5% above the going market rate. Additional wallets tagged as Bitget's sent ETH, AVAX, BNB, USDC, USDT, and XAUT to the same address, according to pseudonymous on-chain researcher DCF GOD. Outflows from Bitget's publicly labeled wallets appeared to stop roughly six minutes after the first suspicious trade. The wallets remained quiet for at least 20 minutes afterward. The pattern was consistent with an exchange freezing withdrawals while it investigated. Bitget representatives did not immediately respond to a request for comment. Bitget touted a $300 million protection fund in 2023 for hacks, theft, and similar losses.