Bitget wallets drained of over $100 million in suspicious Arbitrum moves

Blockchain data shows large transfers leaving Bitget-labeled hot and cold wallets to a single destination. Assets including ETH, AVAX, BNB, USDC and USDT moved out, with losses now estimated above $100 million.

On Arbitrum, a newly created address bought 7,111 ETH in six minutes, spending roughly 19.67 million USDT0 through UniswapX and 1inch Fusion. Several trades executed about 5 % above spot price, pushing the WETH/USDC pool to around $2,870.

Some users reported blocked withdrawals while the transfers took place, raising questions about whether the activity reflects normal trading or an unauthorized extraction.

Based on information from https://cryptonews.net