Crypto news report · source clearly identified
Bitget Hit by $351M Hack, Withdrawals Frozen as Probe Begins
What began as hundreds of millions of dollars mysteriously moving from Bitget-labeled wallets now has an answer. Bitget founder Gracy Chen disclosed Thursday that the crypto exchange suffered unauthorized transfers from portions of its hot and warm wallet infrastructure, with the damage estimated at approximately $351.6 million.
Bitget confirmed a breach on September 24, 2026 that affected an estimated $351.6 million. The exchange detected unauthorized transfers from its hot and warm wallet layers and immediately activated emergency protocols.
Scope of the breach
Security researchers flagged large multi‑chain movements from Bitget‑associated addresses earlier on Thursday. The exchange says the incident was limited to portions of its hot and warm wallets, while its cold wallets remain secure.
User protection fund
Bitget’s User Protection Fund holds more than $464 million, which the company says fully covers the estimated loss. According to the exchange, user account balances remain accurate and assets are protected.
Operational impact
- Withdrawals have been temporarily suspended.
- Deposits and trading continue to operate.
- The exchange plans to publish a full incident report within 24 hours.
Response and investigation
Bitget’s security team notified law‑enforcement and on‑chain security firms, and the addresses involved have been flagged. The exchange will provide hourly updates and will not comment on the attack vector while the investigation is ongoing.
Source & attribution
News Source
- Publisher
- Bitcoin.com News
- Original date
- September 24, 2026, 9:41 PM
- Original headline
- Bitget Hit by $351M Hack, Withdrawals Frozen as Probe Begins