Bitget Breach Exposes $351.6M in Hot-Wallet Attack

The cryptocurrency exchange Bitget has been hit by a significant breach, exposing $351.6 million in a hot-wallet attack on September 24.

According to CEO Gracy Chen, withdrawals have been paused, but cold wallets and user funds remain secure.

The breach occurred when an attacker compromised a critical backend system within Bitget's wallet infrastructure, allowing them to spoof transaction data and trigger the exchange's authorization process to move funds out.

Chen stated that private key compromise has been ruled out and that the specific method of intrusion is still under active investigation.

The breach comes after the Liquid Network lost $320 million earlier this month in a separate hack, and if the figure holds, it would rank as possibly the largest crypto exchange hack of 2026.