Bitget's $351M Hack
Bitget confirmed a security breach involving approximately $351.6 million from hot wallets, suspending all withdrawals, per Bloomberg and the CEO's statement. The exchange said cold wallets and the vast majority of platform assets are unaffected and that losses fall within its user protection fund. On-chain trackers reported the attacker converting funds into roughly 67,982 ETH. Coverage put September's crypto losses at a 2026 high. The incident was ongoing at the time of writing.
Bitget: the fund covers the money, nothing covers the pause
Bitget lost about $351 million from its hot wallets overnight. Its CEO confirmed the hack within hours.
The losses fit inside Bitget's user protection fund. So user funds are apparently safe — for now.
Compare Liquid, two weeks ago. Attackers took 598 bitcoin from the federation — about a seventh of Bitget's loss. Blockstream refused the ransom. Nobody has yet said who covers those 598 coins. The network's transfers out are still paused.
A big exchange can eat $351 million. A federation of fifteen firms is still working out how to eat $50 million.
Yet Bitget's users can't withdraw anything.
When someone else holds your coins, their bad day is your locked door.
22 sources
- Crypto Exchange Bitget Halts Withdrawals After $352 Million Hack · bloomberg.com · T1
- Crypto exchange Bitget says $352 million affected in a hack, claims user funds are 'safe' · coindesk.com · T2
- Crypto Exchange Bitget Exploited for $351M as Hacker Swaps Funds for Ethereum · coingape.com · T2
- Nearly $352M Moved From Crypto Exchange Bitget Wallets in Suspected Hack · bitcoinmagazine.com · T2
- BREAKING: The Bitget Hack Is Still Ongoing—There Are New Developments · en.bitcoinsistemi.com · T2
- COINTELEGRAPH: Bitget confirms $351M security breach, suspends withdrawals · cointelegraph.com · T2
- Bitget Wallets Flagged in Suspected $170M Security Breach · coindoo.com · T2
- BREAKING: Bitget Is Reportedly the Target of a Major Hacking Attack · en.bitcoinsistemi.com · T2
- Another Hack Has Occurred in the Cryptocurrency Market—It Is Still Ongoing · en.bitcoinsistemi.com · T2
- Bitget Disables Withdrawals For Every Asset After $165 Million Moves To One Address · thedefiant.io · T2
- THE BLOCK: More than $170 million in crypto moves from Bitget wallets to unidentified address · theblock.co · T2
- Bitget’s Hot and Cold Wallets Hit in Suspected Hack Worth More Than $180 Million · unchainedcrypto.com · T2
- BREAKING: Bitget CEO Confirms Hack – Massive Losses Revealed – Withdrawals Suspended · en.bitcoinsistemi.com · T2
- Bitget hot wallet potentially hacked as $19.7M in USDT swapped for ETH in under six minutes · cryptobriefing.com · T2
- Security firms are tracking large outflows from Bitget wallets · bsc.news · T2
- Bitget confirms security incident: roughly $350 million involved, losses within user protection fund coverage · panewslab.com · T2
- DECRYPT: Bitget 'Potentially Hacked' as $183 Million Vanishes From Exchange Wallets · decrypt.co · T2
- BREAKING: Bitget Issues Statement Regarding the Hack · en.bitcoinsistemi.com · T2
- Bitget suspected of hack after $180M moved, raising security concerns · cryptobriefing.com · T2
- Abnormal transfers have been detected in some of Bitget’s hot wallets, involving approximately $351.6 million. The exchange’s cold wallets and the vast majority of its platform assets remain unaffected. · lookonchain.com · T2
- Bitget’s $351.6 million hack pushes September crypto losses to 2026 high · cryptoslate.com · T2
- Bitget Hacked for $351.6M, Attacker Converts Stolen Funds to 67,982 $ETH · lookonchain.com · T2