Users of the Bitget exchange have reported issues with processing withdrawals, raising concerns about the platform's security. On-chain data indicates that approximately $176 million in assets were moved from wallets associated with the exchange within a 20-minute window.
The transfers involved multiple hot wallets and at least one cold wallet linked to Bitget. A single address, identified as 0x770b...63Ee, received various assets, including ETH, AVAX, BNB, USDT, USDC, and XAUT. Such rapid movement of funds is often observed during security breaches.
While some social media reports suggest that a portion of the transferred assets may have been converted into ETH, these claims remain unverified. Bitget has not yet issued an official statement regarding the nature of these transactions or confirmed a potential hack.
Exchanges occasionally perform internal fund transfers for maintenance or custody adjustments, which can resemble rapid wallet sweeps. However, the combination of withdrawal blocks and large-scale asset movement has prompted speculation regarding a possible security incident.
