Bitget Confirms $351.6 Million Incident in Hot and Warm Wallets
The exchange said cold wallets and Bitget Wallet were unaffected, while withdrawals remain paused during a security investigation.
Bitget confirmed about $351.6 million in unauthorized transfers from parts of its hot and warm wallets, prompting the exchange to pause withdrawals while investigators examine the incident.
Bitget said it discovered the unauthorized transfers on Sept. 25. The exchange said its cold wallets and Bitget Wallet were not affected, and that user balances remain intact. Losses will be covered by Bitget’s user protection fund.
An initial review pointed to an attack on a key backend system supporting wallet services. The attackers allegedly falsified transfer information and used an authorized signing process to move funds. Bitget said the review has ruled out a direct private-key leak.
The exchange has contained the incident and is working with Mandiant and SlowMist on the investigation and fund recovery. Withdrawals remain temporarily suspended while additional security checks continue.
