Bitget: Some hot wallets experienced abnormal transfers, initially involving about $351.6 million

Odaily news: Bitget spokesperson Xie Jiayin stated on X that the platform's security system detected abnormal transfers from some hot wallets at 2:31 a.m., and immediately activated its emergency response mechanism.

According to Bitget's disclosure, the initial assessment indicates that the incident involves approximately $351.6 million. The platform said that cold wallets and the vast majority of assets were unaffected, user funds are safe, and the related losses are fully covered by the Bitget User Protection Fund, which currently exceeds $464 million.

Bitget stated that within minutes of the incident, it activated an emergency response team and flagged and reported the addresses involved in the abnormal transfers. At the same time, for the sake of fund security, the platform has temporarily suspended withdrawals, which will be restored in an orderly manner after the security review is completed. Deposits and trading functions are currently still operating normally.

The platform also said it has notified law enforcement agencies and on-chain security firms to intervene in the investigation.