On September 24, 2026, Bitget, a cryptocurrency exchange, issued a formal announcement concerning unauthorized transactions that impacted certain hot wallets. The organization confirmed that around $351.6 million in funds were compromised, but reassured users that cold wallets remain secure, ensuring the protection of user assets.
Gracy Chen, the CEO of Bitget, stated that their security systems identified unauthorized transactions from multiple hot wallets at 6:31 PM UTC on the same day. In response, the security team quickly initiated emergency protocols.
The exchange clarified that the incident only affected a small fraction of its hot and warm wallet layers. It highlighted its three-tier wallet architecture, emphasizing that cold wallets were not breached during this event.
Bitget reassured clients that their funds are secure. They mentioned that the total loss of approximately $351.6 million could be fully covered by Bitget’s User Protection Fund, which holds more than $464 million in reserve.
The emergency response team was mobilized within minutes of detecting the issue. Bitget swiftly identified and flagged the compromised addresses, and they briefed the necessary parties. Furthermore, law enforcement and security experts have been officially engaged in the matter.
Bitget Temporarily Halts Withdrawals
The exchange announced a temporary suspension of withdrawals as a precaution while officials conduct a security assessment. Trading and deposits, however, will proceed as usual. The company reaffirmed that account balances are accurate and that user assets are untouched.
Once the security evaluation is complete, Bitget will resume withdrawals. They also committed to providing hourly updates on the situation and will release a detailed report within 24 hours, outlining the cause of the incident, the methods involved, and the steps being taken to rectify the situation.
At this time, specifics regarding the attack method have not been revealed. Bitget stated that they will refrain from speculating about the attack vector until the investigation is finalized.
[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
*This is not investment advice.