Bitget Confirms Major Security Breach Involving $352 Million Outflow from Exchange Wallets

An estimated $351.6 million in cryptocurrency was transferred from Bitget’s hot wallets following a suspected security breach.

The exchange’s CEO issued a statement on Thursday confirming that the security team initiated emergency protocols upon detecting the unauthorized movements, which had been flagged earlier by blockchain security firms.

“At 18:31 UTC on September 24, 2026, Bitget’s security systems identified unauthorized transfers from a subset of our hot wallets,” CEO Gracy Chen stated on X. “Our security team immediately activated our emergency response protocols.”

She further emphasized, “Bitget has weathered multiple market cycles. We will not retreat from this challenge. Every dollar and every decision will be fully accounted for with complete transparency.”

Based in Victoria, Seychelles, Bitget ranks as the sixth-largest exchange globally, facilitating over $1.1 billion in daily trading volume, according to CoinGecko data.

This incident highlights growing concerns within the cryptocurrency sector, which has recently suffered a series of significant breaches. In July alone, hackers exploited a firmware vulnerability in the widely used Coldcard hardware wallet to siphon nearly $120 million from users.

Additionally, earlier this month, individuals claiming to be white-hat hackers extracted approximately 4,000 bitcoins—valued at roughly $320 million at the time—from Blockstream’s Liquid sidechain federation wallet.

Chen confirmed that the exchange’s cold wallets remain entirely secure and that user funds are protected.

“Bitget utilizes a three-tier wallet architecture; the breach was isolated to a portion of the hot and warm wallet layers,” she noted.

According to the official statement, while deposits and trading operations remain fully functional, withdrawals have been temporarily suspended pending a comprehensive security review.

Blockchain analytics firm Arkham Intelligence swiftly developed a dashboard following the unauthorized transfers, illustrating that various cryptocurrencies, including stablecoins, were moved from the compromised Bitget hot wallet.

Although Bitcoin was not initially listed on Arkham’s dashboard, security firm Hacken later confirmed on X that the leading cryptocurrency had also been transferred.

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