Bitget CEO says $351M security incident hit multiple chains and major tokens
AI Market Summary
Bitget's disclosed $351M security incident spanning Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BSC and Base highlights elevated cross-chain and exchange counterparty risk. Although Bitget claims onchain cold wallets and Bitget Wallet are unaffected, the lack of a recovery timeline and the need for foundation-level address freezes can pressure near-term liquidity and risk appetite in impacted assets (notably BNB, ETH, AVAX, XRP) and stablecoin flows.
Impact level
● High
Affected assets
BNB/USDT-0.14%
AI Insight · BNB/USDTAI Insight
▼ Bearish
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Bitget CEO Gracy Chen said the exchange’s $351M security incident affected several major blockchain networks, including Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BSC and Base. Tokens impacted include ETH, XRP, BNB, AVAX, USDT and USDC. Bitget said its on-chain cold wallets were not breached and that Bitget Wallet operates independently and was not affected. The exchange has contacted each affected chain’s foundation, with some confirming freezes on suspected hacker addresses, according to Chen.
