Crypto

Bitget Exchange Hit by $351.6M Unauthorized Transfer, Fund Protection Intact

Guavy AI Editorial Team Published September 25, 2026

Instruments

ETH USDT BNB USDC AVAX

Bitget, a cryptocurrency exchange, reported an unauthorized transfer of approximately $351.6 million in assets on Thursday. The affected funds were part of Bitget's hot- and warm-wallet infrastructure.

The incident was detected by the exchange at 2:31 p.m. ET (6:31 p.m. UTC) when CEO Gracy Chen said it temporarily suspended withdrawals for a security review but kept deposits and trading operational.

Chen stated that customer funds remained safe, citing Bitget's protection fund, which held more than $464 million, exceeding the estimated loss.

The exchange identified roughly $183 million moving from wallets labeled as belonging to Bitget to a newly created address across multiple networks. The affected assets included Ether (ETH), USDT0, USD Coin (USDC), Avalanche (AVAX) and BNB.

Bitget Exchange Hit by $351.6M Unauthorized Transfer, Fund Protection Intact

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