Bitget was hacked, with more than $350 million withdrawn from the exchange’s wallets

Bitget has been hit by a hack that drained more than $350 million from the exchange’s wallets. For high-risk operators and PSPs, the immediate takeaway is simple: when a major crypto venue gets hit at this scale, treasury routing, wallet controls, and exposure to exchange counterparties move back to the top of the risk list.

1. According to the source text, more than $350 million was withdrawn from Bitget wallets after the exchange was hacked. No further details were provided on the attack vector, the destination of the funds, or whether any assets were recovered.
2. The incident is relevant beyond Bitget itself because exchanges are often used as liquidity and settlement points for crypto-facing merchants, brokers, and payment intermediaries. When a venue’s wallets are compromised, the operational question for counterparties becomes whether they have any direct exposure to that flow.
3. The source does not mention a public statement from Bitget, law enforcement, or a timeline for remediation. For payment teams, that means there is no confirmed basis here to assess containment, reimbursement, or whether services were paused.
4. In practice, events like this tend to put extra pressure on counterparties that rely on exchange balances, hot-wallet storage, or fast-moving settlement chains. The core issue is not the headline number alone; it is whether your own controls assume the exchange can be trusted as a stable ledger endpoint.