Roughly $351.6 million in digital assets has left cryptocurrency exchange Bitget’s hot wallets in what is suspected to be a security breach.
Bitget’s chief executive stated on Thursday that the company’s security personnel deployed emergency procedures upon noticing the fund movements, following earlier warnings from blockchain security firms.
“At 18:31 UTC on September 24, 2026, Bitget’s security systems detected unauthorized transfers from some of our hot wallets,” Bitget CEO Gracy Chen wrote on X. “Our security team activated emergency response protocols immediately.”
She also stated: “Bitget has navigated multiple market cycles. We will not run from this. Every dollar and every decision will be accounted for, transparently and in full.”
CoinGecko metrics indicate that the Victoria, Seychelles-registered platform ranks as the sixth largest exchange, handling daily trading volumes exceeding $1.1 billion.
This event arrives amid heightened scrutiny over digital asset security following multiple hacks throughout the year. In July alone, attackers exploited a firmware vulnerability in the Coldcard hardware bitcoin wallet, making off with close to $120 million in customer assets.
Furthermore, earlier this month, alleged white-hat attackers drained approximately 4,000 bitcoins—valued at about $320 million at the time—from the federation wallet of Blockstream’s Liquid sidechain.
Chen emphasized that the platform’s cold storage infrastructure stayed entirely secure and user assets remain protected.
She posted: “Bitget operates a three-tier wallet architecture — the breach contained only a portion of the hot wallet and warm wallet layers.”
Trading and deposits continue to function normally, though withdrawals are paused temporarily until safety checks conclude, according to the official announcement.
Shortly after the unauthorized transactions occurred, blockchain analytics provider Arkham Intelligence launched a monitoring dashboard displaying various digital currencies and stablecoins exiting the Bitget hot wallet.
Although Bitcoin was absent from Arkham’s initial breakdown, blockchain security enterprise Hacken subsequently reported via X that Bitcoin was indeed among the assets transferred.
Frequently Asked Questions
What happened to Bitget?
An estimated $351.6 million in crypto was moved from Bitget’s hot wallets in a suspected hack on September 24, 2026.
Are user funds safe?
Bitget CEO Gracy Chen stated that user funds are safe and that the exchange’s cold wallets remain fully secure.
Are withdrawals still active on Bitget?
Deposits and trading remain fully operational, but withdrawals are temporarily paused pending a complete security review.
Which assets were affected?
Arkham Intelligence showed various cryptocurrencies and stablecoins were moved, and crypto security firm Hacken reported Bitcoin was also involved.
