VictoriaUnauthorized transfers drained $351.6 million from Bitget Thursday.

Bitget paused withdrawals, locking customers out while its security review runs.

Hot and warm wallets keep keys online so withdrawals clear instantly, and the breach hit only those layers, CEO Gracy Chen said.

Chen says user funds are safe, backed by a protection fund holding over $464 million.

Withdrawals stay paused until Bitget finishes its security review.

How each outlet framed it
CoinDesk
confirms three-tier wallet architecture with cold storage secure, $351.6M breach limited to hot/warm layers, Arkham tracked asset consolidation

Sources: CoinDesk