Bitget Security Breach Triggers $351.6M Loss and Halts Withdrawals
The Bitget security breach resulted in the unauthorized withdrawal of $351.6 million from the exchange’s hot wallets on September 24, 2026. Monitoring systems detected suspicious transactions at 18:31 UTC, prompting security teams to intervene. Bitget CEO Gracy Chen confirmed the incident, noting that cold storage wallets remained unaffected.
Blockchain analytics firms initially tracked transfers between $170 million and $183 million in ETH, USDT, USDC, AVAX, and BNB to a single destination address. The exchange later updated its verified loss estimate to $351.6 million following an internal review.
Bitget paused asset withdrawals for a technical audit, while deposit services and trading continue normally. The company will reimburse affected accounts through its User Protection Fund, which holds over $464 million. Security teams have flagged the attacker addresses, notified law enforcement, and plan to release a report within 24 hours.
