Binance Offers Support to Hacked Rival Bitget Amid $388 Million Hack
Binance founder Changpeng Zhao has offered support to Bitget after a $388 million hack on September 24, 2026. The hack allowed the attacker to access a backend system and falsify transaction data, rather than stealing private keys controlling wallets. Bitget's cold storage remained secure during the breach.
The hacker primarily took 103 million XRP, valued at approximately $157 million, accounting for the largest portion of the stolen funds. Other assets taken included ETH, USDT, USDC, BNB, AVAX, Zcash, and TRON. Bitget suspects the attack bears similarities to patterns used by hacking groups associated with North Korea.
Binance's support comes in a gesture that may be seen as solidarity within the industry or a strategic move to protect its own interests. Zhao did not specify any particular amount, assets, or timeline for assistance. The situation could change if Binance provides specific assets to Bitget or freezes funds linked to the breach.