$351.6 Million Hack Hits Bitget, Pushes September Crypto Losses to 2026 High

Bitget's Universal Exchange platform has been hacked, resulting in losses of $351.6 million to users' accounts. The breach occurred on September 24th at 18:31 UTC and was detected by the exchange within minutes. CEO Gracy Chen stated that customer balances remain accurate, but withdrawals are currently suspended as a precautionary measure.

The hack affected seven assets, with Ethereum being the most severely impacted, accounting for 44.4% of the losses. Bitget has identified and flagged addresses connected to the transfers and is working with law enforcement agencies and on-chain security firms to investigate the attack vector.

Bitget's User Protection Fund, which currently holds over $464 million, covers the full amount of the loss. Chen emphasized that every dollar and decision will be accounted for transparently and in full during the investigation.

The breach has pushed September's reported total losses to a 2026 high, surpassing April's losses of $646.9 million. Bitget plans to provide hourly updates and publish a full incident report within 24 hours, including the root cause and corrective measures.