Bitget Records $463M Outflows Following $388M Security Breach

Key Facts

Bitget recorded net outflows of $463 million following a major security breach that compromised its infrastructure. Crypto Briefing reported that updated estimates suggest the value of stolen assets from the exchange could reach up to $388 million, triggering a significant flight of capital.

The massive outflows are driven by eroding user confidence after the exchange's wallet infrastructure was compromised four days ago, with initial investigations pointing toward external threat actors. This incident has placed ongoing pressure on the exchange's liquidity.