Bitget confirmed a $351.6 million hack affecting its hot and warm wallets on September 24. Blockchain analysts estimated that roughly $192 million had been drained, but Bitget puts potential losses at $351.6 million. Withdrawals have been temporarily suspended while deposits and trading remain operational. The exchange states that its $464 million User Protection Fund is sufficient to cover losses, representing approximately 76% of its declared value. Law enforcement and blockchain security firms have been contacted for assistance, and Bitget promises a full incident report within 24 hours.
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