Crypto Exchange Bitget Confirms $351,600,000 Hot Wallet Breach, Abruptly Suspends Withdrawals
A leading cryptocurrency exchange is confirming a major security breach involving unauthorized transfers from its hot wallets.
The platform says security systems flagged the abnormal activity at 18:31 UTC on September 24th, 2026, limited to a portion of its hot wallets.
Cold wallets stayed fully secure, and the overwhelming majority of platform assets remained unaffected.
The exchange says it immediately activated emergency protocols and engaged law enforcement along with on-chain security partners.
“Most importantly, user funds remain protected.
The incident falls within the coverage of Bitget’s User Protection Fund, which currently holds more than $464 million.
Customer account balances remain accurate, and deposits and trading continue to operate normally.”
While Bitget says most of the platform’s services continue to operate as usual, it is temporarily halting withdrawals for security purposes.
“As a precaution, withdrawals have been temporarily suspended while our teams complete a comprehensive security review.
We have identified and flagged the relevant transfer addresses and have formally engaged law enforcement agencies and leading on-chain security partners.
We are working around the clock to restore withdrawal services as soon as it is safe to do so.
Bitget will provide further updates through our official channels.”
For now, the crypto exchange says it will not speculate on the attack vector until the investigation is complete.
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