Bitget is facing hack speculation after users reported withdrawal problems, and on-chain data showed roughly $176 million moving from wallets labelled as belonging to the exchange.
Arkham data shows a series of large transfers taking place within around 20 minutes. The funds came from several Bitget-labelled hot wallets and at least one cold wallet.
BREAKING: BITGET USERS REPORT WITHDRAWAL ISSUES
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Users are reporting blocked withdrawals on Bitget, while on-chain data shows more than 0M in assets moving from a Bitget cold wallet. Something unusual appears to be happening at Bitget. pic.twitter.com/A08qVSbdWj
One address, 0x770b...63Ee , appears repeatedly as the receiver. It received ETH, AVAX, BNB, USDT, USDC, XAUT and other assets from the exchange-linked wallets.
The pattern is unusual because several wallets appear to be sending different assets into the same address within a short period. Similar rapid wallet sweeps can happen during exchange hacks, although exchanges also move funds internally during wallet maintenance or custody changes.
Separately, users on social media have reported blocked withdrawals. Some accounts also claim that part of the transferred assets were swapped into ETH, although that is not shown in the screenshot and remains unconfirmed.
Bitget has yet to release an official response explaining the transactions or confirming whether it suffered a security breach.
Read the Original story Bitget Exchange Reportedly Hacked For Over $170 Million by Mohammad Shahid at beincrypto.com