AI · CoinDesk
Crypto exchange Bitget confirms $352 million affected in a hack, asserts user funds are 'safe'
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Crypto exchange Bitget had $351.6 million dollars exposed to a system breach on Thursday, CEO Gracy Chen announced in a social media post.
Key facts
- UPDATE (Sept. 24, 2026, 22:10 UTC): Adds market reaction to the news of the hack
- UPDATE (Sept. 24, 2026, 22:05 UTC): Clarifies language surrounding the exploit
- Bitcoin’s price was down some 0.29%, while ether’s price was down 0.2% over the past 24 hours’ trading
- Bitget potentially losing up to $351.6 million marks this event as possibly the biggest hack of 2026
Summary
In a post on X, Chen said that Bitget’s cold wallets and user funds were safe, and that there were “unauthorized transfers from some of our hot wallets.” The exchange maintains a “user protection fund” that had over $464 million in it, she said. Deposits and trading remain online, she said, but the exchange is “temporarily” pausing withdrawals until it can finish a security review. Onchain data and independent blockchain researchers had earlier flagged unusual wallet movements, initially reporting that around $183 million in digital assets had moved from wallets labeled as belonging to the exchange. Emmett Gallic, an analyst at blockchain analytics firm Arkham Intelligence, said in an X post that the transactions involved three Bitget hot wallets and one cold wallet across multiple blockchains, with the funds consolidated into a single address.