PARIS – Crypto exchange Bitget has stopped allowing customer withdrawals following the theft of crypto worth approximately US$351.6 million (S$449.2 million) in a hack, it said, adding all user funds were safe.

Bitget had noticed “unauthorised transfers” from some of its wallets on Sept 24 and it “temporarily suspended” customer withdrawals, Gracy Chen, chief executive of the Seychelles-based company, said in a statement posted on X.

Chen said that all user funds were safe and that the loss was covered by Bitget’s own funds.

“Withdrawals remain temporarily suspended as a security precaution, not because of any shortfall in funds,” Chen told Reuters in an e-mailed statement on Sept 25.

Bitget says it has more than 120 million…