Bitget, a cryptocurrency exchange based in the Seychelles, has suspended withdrawals following an unauthorized transfer of approximately $351.6 million. The funds were moved from the platform's hot and warm wallets, prompting the company to pause outgoing transactions as a precautionary measure.
CEO Gracy Chen stated that user assets remain secure despite the breach. The exchange points to its User Protection Fund, which holds over $464 million, as a guarantee for customer capital. While withdrawals are currently unavailable, the platform continues to support deposits and trading operations.
The incident has drawn attention to the security protocols of centralized exchanges. Market participants are now waiting for updates regarding the resumption of withdrawal services and potential new security measures. Observers are also tracking the broader impact of this event on market confidence.
