NewsBTC
Sep 26, 2026
8 0
Bearish

Bitget reports $351.6M hot wallet breach, pauses withdrawals, fund covers losses

2 min
  • Bitget reports unauthorized transfers totaling approximately $351.6 million from parts of its hot and warm wallet infrastructure. Cold wallets were not affected.
  • The exchange states customer balances remain accurate and that losses are covered by its User Protection Fund, which holds more than $464 million.
  • Withdrawals are temporarily suspended during the investigation. Deposits and trading remain available.
  • Bitget has flagged abnormal transfer addresses and is working with law enforcement and onchain security firms. A full incident report with root-cause analysis is promised within 24 hours.
  • The breach underscores risk differences between exchange custody and self-custody. Bitget says its separate self-custodial Bitget Wallet was not involved.

ID: N25-10

Site: NewsBTC

Status: READY

Author: NewsBTC Editorial Team

Focus Keyword: Bitget

Image Keyword: Security

Category: Technology

Tags: Bitget, Security, Hack, Exchange, Wallets

Primary Source: https://www.bitget.com/support/articles/

Bitget Says Cold Wallets And Customer Balances Remain Secure

Bitget states the incident was contained to hot and warm wallet layers. Cold wallets were not compromised. Customer balances remain accurate, and the estimated loss is within the $464 million-plus User Protection Fund. Withdrawals are paused during the security review. Deposits and trading continue. Bitget has identified abnormal transfer addresses and contacted law enforcement and security firms. The company will publish a root-cause report within 24 hours and is not speculating on attack vectors until then.

Protection Fund And Operational Impact

The stated protection fund exceeds the current estimated loss, indicating coverage without customer losses. Operational impact remains: users cannot withdraw during the pause, and scope or loss figures could change as the investigation progresses. The breach highlights the difference between exchange custody, which depends on platform security and balance sheet strength, and self-custody. Bitget says its separate self-custodial Bitget Wallet was not involved. Key outstanding issues: how access was gained, containment of affected wallets, and timing for safe withdrawal resumption. The scale of the $351.6 million loss makes the forthcoming root-cause report consequential beyond Bitget’s user base.