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Bitget halts withdrawals after wallet breach affecting an estimated $351.6 million

Bitget said its protection fund held more than $464 million and covered the estimated loss. The exchange said customer balances remained accurate, while deposits and trading continued operating.

7 Sources, ,

Bitget branding shown in Bloomberg's report on the exchange's wallet breach.

TLDR

Bitget said it detected unauthorized transfers at 18:31 UTC on September 24, 2026, affecting approximately $351.6 million. CEO Gracy Chen said the breach affected parts of its hot and warm wallet systems, while cold wallets remained secure. Withdrawals were temporarily suspended pending a security review; deposits and trading remained operational, the exchange said. Chen said user funds were protected and the estimated loss fell within the coverage of its protection fund, which held more than $464 million. Bitget said it had engaged law enforcement and blockchain security firms. In her September 24 notice, Chen promised a full incident report within 24 hours and declined to speculate on how the breach occurred.

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Withdrawals paused while the cause is investigated

Bitget said deposits and trading continued to operate, but withdrawals were paused as a precaution during a security review. The exchange said it identified and flagged the relevant transfer addresses and brought in law enforcement and on-chain security firms.

The size of the suspected loss changed as researchers traced more activity. Reporting on the incident says early estimates of suspicious transfers rose from about $174 million to roughly $183 million before Chen announced Bitget's $351.6 million figure. That remains the company's estimate rather than a completed forensic accounting.

Chen said customer account balances remained accurate and that Bitget's User Protection Fund, which she valued at more than $464 million, would cover the full estimated loss. Those assurances come from the exchange; Bitget has not yet published the promised incident report or independent evidence establishing the final loss and recovery process.

The attack vector is still unknown

Bitget has not disclosed how the wallets were compromised. Chen said the company would not speculate while the investigation continued and promised hourly updates plus a report covering the root cause and corrective actions within 24 hours.

That report will be the first opportunity to compare the exchange's initial account with a fuller technical timeline, including which wallet controls failed, how the transfers were authorized and when withdrawals can safely resume.

TLDR

Withdrawals paused while the cause is investigated

The attack vector is still unknown

Bitget halts withdrawals after wallet breach affecting an estimated $351.6 million

TLDR

17 Sources

Combined views

Withdrawals paused while the cause is investigated

The attack vector is still unknown

Bitget halts withdrawals after wallet breach affecting an estimated $351.6 million

TLDR

Withdrawals paused while the cause is investigated

The attack vector is still unknown

Combined views

Sentiment

Summary

Sentiment

Summary

Withdrawals paused while the cause is investigated

The attack vector is still unknown

Withdrawals paused while the cause is investigated

The attack vector is still unknown

Sentiment

Summary

17 Sources

Sentiment

Summary