Key facts
- Bitget confirmed a security breach involving unauthorized transfers of approximately $351.6 million in assets.
- Withdrawals were temporarily suspended as the exchange investigates the incident.
- The breach affected a limited number of hot wallets; cold wallets remained secure.
- User account balances remained accurate, and deposits and trading continued normally.
- The full amount affected is covered by Bitget's User Protection Fund, which holds over $464 million.
- Bitget has flagged addresses associated with the transfers and contacted law enforcement.
Cryptocurrency exchange Bitget confirmed a significant security breach, reporting unauthorized transfers of approximately $351.6 million in assets. The exchange temporarily suspended withdrawals on September 24, 2026, at 18:31 UTC after its security systems detected the transfers, which involved a limited number of hot wallets. Bitget CEO Gracy Chen stated that the breach was contained to the hot and warm wallet layers, with cold wallets remaining secure. She assured users that account balances are accurate and that deposits and trading operations continue normally. The exchange has flagged the addresses associated with the transfers and is cooperating with law enforcement and on-chain security firms. Chen added that the full amount affected is covered by Bitget's User Protection Fund, which holds over $464 million. On-chain data from firms like Arkham Intelligence initially indicated that around $183 million was moved to a new address, with a portion used to purchase 7,111 ETH on Arbitrum at a 5% premium. Bitget has committed to providing hourly updates and publishing a full incident report within 24 hours.