Crypto Chaos: Bitget Embroiled in Suspected $352M Wallet Hack!
Cryptocurrency exchange Bitget has reported a suspected hack, with an estimated $351.6 million moved from its hot wallets on September 24, 2026. CEO Gracy Chen confirmed the incident and the activation of emergency protocols, assuring users that cold wallets are secure and funds are safe, though withdrawals are temporarily paused for a security review. This event highlights ongoing crypto security challenges following other recent industry breaches.
Cryptocurrency exchange Bitget has experienced a suspected hack, leading to the unauthorized transfer of an estimated $351.6 million in digital assets from its hot wallets. The incident was detected at 18:31 UTC on September 24, 2026, prompting an immediate emergency response from the platform's security team.
Bitget CEO Gracy Chen addressed the situation on X, confirming the unauthorized transfers and stating that security systems flagged movements from some hot wallets. She reassured users that the exchange's cold wallets remained fully secure, and user funds were safe, explaining that Bitget operates a three-tier wallet architecture and only a portion of the hot and warm wallet layers were affected. Chen emphasized Bitget's commitment to transparency, stating, "Bitget has navigated multiple market cycles. We will not run from this. Every dollar and every decision will be accounted for, transparently and in full."
Following the detection, Bitget's security team activated emergency response protocols. Deposits and trading functionalities remain fully operational on the platform; however, withdrawals have been temporarily paused to facilitate a comprehensive security review. Blockchain security firms had reportedly flagged the issue earlier on the day of the incident.
Blockchain data firm Arkham Intelligence quickly created a dashboard indicating that a variety of cryptocurrencies, including stablecoins, had been moved from the compromised Bitget hot wallet. While Bitcoin was initially not on Arkham's list, crypto security firm Hacken later confirmed on X that the largest cryptocurrency had also been part of the unauthorized transfers.
This event comes amid heightened scrutiny on crypto security, following a string of significant breaches this year. In July alone, hackers exploited a firmware bug in the popular Coldcard bitcoin hardware wallet, resulting in the theft of nearly $120 million. Additionally, in the same month, approximately 4,000 bitcoins, valued at about $320 million at the time, were withdrawn from Blockstream’s Liquid sidechain’s federation wallet. Bitget, based in Victoria, Seychelles, is the sixth-largest exchange globally, processing over $1.1 billion in daily trading volume, according to CoinGecko data, underscoring the significance of this security incident.