Bitget Confirms $351 Million Hot Wallet Breach Amid Security Concerns

Bitget has confirmed a hot wallet security breach that affected approximately $351.6 million in cryptocurrency on September 24.

The exchange's CEO, Gracy Chen, said in a security notice that Bitget's security systems detected unauthorized transfers from some of its hot wallets at 18:31 UTC and activated emergency response protocols within minutes.

Withdrawals have been temporarily suspended while the exchange conducts a security review, but deposits and trading remain operational.

The breach was contained to a portion of Bitget's hot and warm wallet layers, with cold wallets remaining secure.