Bitget reportedly hacked after roughly $176 million moves

Bitget is reportedly facing a hack after roughly $176 million moved from wallets labelled as belonging to the exchange. Arkham data showed a series of large transfers within around 20 minutes. The funds came from several Bitget-labelled hot wallets. The funds also came from at least one cold wallet. One receiving address repeatedly received ETH, AVAX, BNB, USDT, USDC, XAUT and other assets. Several wallets sent different assets to the same address within a short period. Users reported blocked withdrawals. Some social media accounts claimed that some transferred assets were swapped into ETH. That claim remains unconfirmed because the screenshot did not show the swap. Similar rapid wallet sweeps can occur during exchange hacks. Exchanges can also move funds internally during wallet maintenance or custody changes. Bitget has not released an official response explaining the transactions or confirming whether it suffered a security breach.