Bitget says user funds remain safe after $351.6 million breach

Bitget confirmed unauthorized transfers affecting approximately $351.6 million in assets. Bitget detected the transfers at 18:31 UTC on Thursday. The transfers involved a limited number of hot wallets. Bitget temporarily suspended withdrawals during its security review. CEO Gracy Chen said the breach was contained to part of the exchange's hot and warm wallet layers. Chen said Bitget's cold wallets remained secure. Bitget said user account balances remained accurate. Bitget said deposits and trading continued normally. Bitget flagged addresses associated with the transfers. Bitget contacted law enforcement and onchain security firms. Chen said Bitget's User Protection Fund covered the full affected amount. The fund currently holds more than $464 million. Chen said Bitget would provide hourly updates. Bitget will publish a full incident report with a root-cause analysis and corrective actions within 24 hours. Bitget has not disclosed how the wallets were compromised. Bitget said it would not speculate on the attack vector while the investigation continues.