After suspicious movements were noted from a few of Bitget’s online wallets, the site temporarily removed permission for withdrawals.

It was thought that around $351.6m of assets were impacted. Balances remain right, and the exchange’s protection funds are large enough to cover the loss.

Bitget reports unauthorized wallet transfers

On September 24 at 18:31 UTC, the exchange’s security systems spotted the transfers, said Bitget. They alerted their emergency team, who looked into it and discovered flagged addresses receiving the transfers.

​However, the initial estimates were lower, as blockchain analysis company Bubblemaps found that roughly $192 million had drained from the wallets through different networks.

Those transfers…