Bitget-Labeled Wallet Swapped $19.7M in USDT0 for Ether
The wallet converted the funds into roughly 7,111 ETH on Arbitrum within about six minutes, using UniswapX and 1inch Fusion.
A wallet labeled as belonging to Bitget moved about $19.7 million in USDT0 on Arbitrum and converted the funds into roughly 7,111 Ether (ETH) within about six minutes on Sept. 24.
The trading sequence used UniswapX and 1inch Fusion, decentralized trade-routing services that execute swaps across liquidity sources rather than through a conventional centralized-exchange order book. Some trades executed at premiums of as much as 5% above the prevailing ETH spot price.
The available transaction details do not establish whether the transfers were unauthorized. The transaction hash is 0xd032320ad8a3cddc61ec0db5e6e26a6dcf813243a77b7edc5a65451ade0b84e3.
USDT0 is a cross-chain version of Tether’s stablecoin. The transactions took place on Arbitrum, an Ethereum layer-2 network.
