Suspected Hack Drains Over $352M from Bitget's Hot Wallets

Crypto worth an estimated $351.6 million was transferred from Bitget's hot wallets in what is believed to be a hack.

In a statement on Thursday, Bitget's CEO stated that the exchange's security team initiated an emergency response upon detecting the transfers. Earlier in the day, blockchain security firms had raised the alarm.

Bitget CEO Gracy Chen wrote on X: "At 18:31 UTC on September 24, 2026, Bitget’s security systems detected unauthorized transfers from some of our hot wallets. Our security team activated emergency response protocols immediately."

Chen further 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."

[SECURITY NOTICE] Bitget Hot Wallet Incident — September 24, 2026

At 18:31 UTC on September 24, 2026, Bitget's security systems detected unauthorized transfers from some of our hot wallets. Our security team activated emergency response protocols immediately.

What we have…

— Gracy Chen @Bitget (@GracyBitget) September 24, 2026

Bitget, which is headquartered in Victoria, Seychelles, ranks as the sixth-largest exchange by daily trading volume, with over $1.1 billion processed each day, per CoinGecko.

This incident follows a series of crypto security breaches this year that have shaken the community. In July, for instance, hackers exploited a firmware vulnerability in the Coldcard bitcoin hardware wallet to steal approximately $120 million in user funds.

Also this month, approximately 4,000 bitcoins, then valued at around $320 million, were withdrawn from Blockstream's Liquid sidechain federation wallet by alleged white-hat hackers.

Chen further noted that the exchange's cold wallets were not compromised and that user funds remain secure.

She stated in a post: "Bitget operates a three-tier wallet architecture — the breach contained only a portion of the hot wallet and warm wallet layers."

Per the statement, deposits and trading are still functioning normally, but withdrawals have been temporarily halted pending a security review.

Shortly after the unauthorized transfers, blockchain analytics firm Arkham Intelligence set up a dashboard indicating that various cryptocurrencies, including stablecoins, had been moved from Bitget's hot wallet.

Although Bitcoin was not listed by Arkham, crypto security company Hacken later posted on X that the largest cryptocurrency had also been transferred.