Cryptocurrency exchange Bitget released an official statement on September 24, 2026, regarding unauthorized transfers affecting some of its hot wallets. The company confirmed that approximately $351.6 million worth of funds were affected, but stated that cold wallets were secure and user assets were protected.
According to a statement by Bitget CEO Gracy Chen, the company’s security systems detected unauthorized transfers from several hot wallets at 6:31 PM UTC on September 24. The security team then activated emergency response protocols.
The exchange stated that the incident was limited to only a portion of the hot and warm wallet layers. It was emphasized that Bitget has a three-layered wallet architecture, and cold wallets were not affected by the breach.
According to the company, user funds are also safe. It was stated that the entire approximately $351.6 million loss could be covered by Bitget’s User Protection Fund, which holds over $464 million in assets.
Bitget stated that its emergency response team was activated within minutes of the incident being detected, that the addresses where the unusual transfers occurred were identified and marked, and that the relevant parties were notified. It was also noted that law enforcement and security companies were officially involved in the process.
Bitget Has Suspended Withdrawal Transactions for Now
The exchange announced it has temporarily suspended withdrawals as a precautionary measure while a security review is underway. However, deposits and trading continue as normal. The company maintained that account balances are accurate and user assets are protected.
Bitget announced that withdrawals will be reopened after the security review is complete. The company also stated that updates on the incident will be shared hourly and a comprehensive incident report detailing the cause of the attack, the method used, and corrective measures taken will be published within 24 hours.
The method used in the attack has not been disclosed at this stage. Bitget stated that they will not speculate on the attack vector until the investigation is complete.
*This is not investment advice.
