Bitget Suffers $351M Hot Wallet Breach, Suspends Withdrawals

Bitget cryptocurrency exchange suspended withdrawals and on-chain trading services after a security breach targeted its hot wallets, resulting in an estimated $351.6 million loss. The incident occurred on September 24, 2026, at 18:31 UTC, when Bitget's security systems detected unauthorized transfers from its hot and warm wallet layers.

According to Bitget CEO Gracy Chen, the breach involved assets across multiple blockchains, including Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BNB Smart Chain, and Base. The largest single-chain loss was in XRP, while other affected assets included ETH, BNB, AVAX, USDT, USDC, and various altcoins.

Bitget confirmed that its cold wallets remain secure and unaffected by the breach, with user funds still protected under the exchange's User Protection Fund, which holds over $464 million. Chen noted that Bitget holds over $1 billion in proprietary assets beyond the protection fund, ensuring a 1-to-1 coverage of user funds.

The exchange has notified relevant authorities and on-chain security firms globally to assist with the investigation, which suggests the attack aligns with methods used by hacking groups linked to the Democratic People’s Republic of Korea (DPRK). Bitget aims to resume full withdrawal services once the ongoing security review is complete, with a specific timeline yet to be announced.