Bitget confirms $351.6M outflow, suspends withdrawals
- —Losses estimated at $351.6 million from some hot and warm wallets
- —Cold wallets and most platform assets were not affected
- —Withdrawals suspended; deposits and trading remain operational
- —Bitget's user protection fund exceeds $464 million and covers the loss
Why it matters: One of the largest exchange breaches in recent months; if losses aren't fully covered, confidence in CEXs and the broader market could drop sharply.
Source: Bloomingbit