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Bitget Confirms $351.6M Security Breach, Temporarily Suspends Withdrawals! Crypto exchange Bitget has confirmed unauthorized transfers affecting approximately $351.6 million across a limited portion of its hot and warm wallet infrastructure. The incident was detected at 18:31 UTC on September 24, after unusual fund movements were flagged across several networks. Early onchain estimates placed the amount above $170 million, but Bitget later disclosed a significantly larger total. CEO Gracy Chen said the exchange’s cold wallets and most platform assets remain unaffected. User account balances are reportedly intact, while deposits and trading continue to operate normally. Withdrawals have been temporarily suspended as a precaution while Bitget conducts a security review. The exchange says the losses are fully covered by its $464M+ User Protection Fund and has promised regular updates alongside a complete incident report. Users should rely on Bitget’s official channels and remain cautious of phishing links or fake “fund recovery” messages. Sources: CoinDesk | Cointelegraph This post is for market information only and does not constitute financial or investment advice.

Cronos Halts After Tectonic Exploit Up to $75M Affected The Cronos blockchain halted block production after an exploit targeted Tectonic, one of the network’s largest lending protocols. Early analysis suggests the attacker manipulated the price of the thinly traded TONIC token, artificially inflating its collateral value before borrowing other assets against it a strategy broadly similar to the Mango Markets exploit. The amount affected is currently estimated at around $75 million, although this remains preliminary and should not yet be treated as the final realized loss. Reports indicate that most of the assets remained on Cronos when the network was halted, potentially improving recovery prospects. The incident highlights a major DeFi risk: low-liquidity tokens combined with weak oracle protections can turn collateral markets into a serious attack vector. This post is for market information only and does not constitute financial or investment advice.