Bitget reported unauthorized transfers from some of its hot wallets.
According to Bitget’s estimate, approximately $351.6 million in funds were affected. The exchange said its cold wallets were not affected.
The exchange temporarily suspended withdrawals. Deposits and trading remain operational. Bitget said user funds are protected and that its protection fund, which exceeds $464 million, covers the entire loss.
Bitget also said it had notified law enforcement and on-chain security companies. The exchange will publish hourly updates and has promised a full incident report within 24 hours. Bitget has not yet disclosed the cause or method of the attack.
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