Bitget to Cover $351M Loss in Biggest Exchange Hack of 2026

Bitget, a major global cryptocurrency exchange, has announced that it will cover losses of approximately $351.6 million after hackers breached its hot and warm wallets on September 24.

The attack affected various assets including ETH, XRP, BNB, AVAX, USDT, and USDC across multiple blockchains, with the estimated value of the affected funds being around $351.6 million.

CEO Gracy Chen stated that Bitget's $464 million protection fund will cover the loss, adding that user balances remain accurate and that the exchange has sufficient funds to cover the losses.

The exchange has frozen all customer withdrawals while it investigates the incident, and is working with the foundations of the affected blockchains to freeze hacker wallet addresses.