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 users, making it one of the world’s largest crypto exchanges.
Crypto exchanges have for years been subject to hacks and thefts. In 2025, crypto exchange Bybit had US$1.5 billion stolen in a hack, which the Federal Bureau of Investigation attributed to North Korean hackers.
North Korea routinely denies involvement in cyberhacking or crypto heists.
The authorities have said criminals can quickly move stolen cryptocurrency across borders, without using the mainstream financial system. REUTERS
