Cryptocurrency exchange Bitget has been hacked for over $351 million after attackers compromised a few of its hot wallets.

The hack was first flagged across several onchain tools, which initially noted over $180 million in assets moving from a few of the exchange’s wallets to unidentified addresses.

The potential attacker is swapping the stolen funds, which comprise ETH, USDC, USDT, BNB, AVAX, etc., for prices far lower than their spot prices and bridging them to other chains.

Several users reported withdrawal issues, with the platform failing to process transactions.

Bitget said it suspended withdrawals following the hack

Bitget CEO Gracy Chen confirmed the hack in an X post on Thursday, estimating the loss at around $351.6 million. Grace…