Bitget Reports $351.6M Wallet Breach, Freezes Withdrawals
The exchange said deposits and trading remain active, while its protection fund exceeds the estimated loss.
Bitget said unauthorized transfers from parts of its hot- and warm-wallet infrastructure affected approximately $351.6 million on Sept. 24, prompting the exchange to suspend withdrawals while it investigates.
The transfers were detected at 2:31 p.m. ET (18:31 UTC). Bitget said deposits and trading remained operational, while its cold wallets were secure.
The exchange said its User Protection Fund held more than $464 million, exceeding the estimated loss. Bitget also said it flagged associated addresses, notified law enforcement and contacted on-chain security firms.
Earlier blockchain-monitoring alerts had placed the suspicious movements between $174 million and $183 million. Bitget did not disclose how the transfers were authorized and said it would release a full incident report covering the root cause and corrective measures within 24 hours.
