Bitget Hit for $351.6 Million as Crypto Exchange Breach Trend Continues

Bitget, one of the largest cryptocurrency exchanges, has confirmed that hackers drained $351.6 million from its hot wallets on September 24, marking the largest crypto exchange breach of 2026. The attack occurred at 18:31 UTC and was only discovered after Bitget's security systems flagged unauthorized transfers.

CEO Gracy Chen stated that cold wallets, which hold the bulk of customer funds offline, were untouched, and that the exchange's $464 million user protection fund covers the loss in full. Withdrawals are currently paused while deposits and trading remain unaffected.

The incident is the second nine-figure crypto theft in three weeks, following a similar attack on Blockstream's Liquid Network that resulted in $319 million being stolen from bitcoin users. The total value of crypto theft in September now exceeds $684 million, making it the worst monthly total of 2026.