Bitget Exchange Hit by $351.6M Wallet Breach, Withdrawals Suspended

Bitget, a cryptocurrency exchange, has confirmed that it was hit by a significant breach involving approximately $351.6 million in unauthorized transfers from its wallet infrastructure.

The incident occurred on September 24 at 18:31 UTC and affected parts of the exchange's hot and warm wallet layers under a three-tier custody system. However, its cold wallets were not affected.

Bitget's security team quickly activated its emergency response process, identified and flagged addresses connected to the transfers, and notified law-enforcement agencies and onchain security firms.

The exchange has suspended withdrawals while it reviews the affected infrastructure, but deposits and regular trading remained available. Bitget also temporarily halted its Onchain trading service due to the security review.