BREAKING: Bitget Is Reportedly the Target of a Major Hacking Attack

Allegations have surfaced regarding unusual on-chain activity on the cryptocurrency exchange Bitget. The magnitude of the incident is claimed to exceed $100 million.

While some users have reported that withdrawals have been blocked, high-value asset transfers appear to have been made from hot and cold wallets labeled as belonging to Bitget.

According to researchers who shared on-chain data, transactions on the Arbitrum network were particularly noteworthy. The newly created address 0xe410…d946 reportedly purchased 7,111 $ETH in just six minutes using approximately 19.67 million USDT0 from the Bitget hot wallet. The transactions were conducted via UniswapX and 1inch Fusion, with some purchases paying approximately 5% above the spot price.

The fact that the price in the WETH/$USDC pool rose to around $2,870 during these aggressive purchases also raised suspicions that the transactions might be different from normal market buying.

Other shared on-chain data shows that various assets, including $ETH, AVAX, BNB, $USDC, XAUT, USDT0, and $USDT, were transferred from wallets labeled as Bitget to the same address. Some of the transactions shown in the screenshots alone amount to tens of millions of dollars.

*This is not investment advice.