# Bitget Plans to Replenish Protection Fund Above $300 Million

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/24785
Published: 2026-09-28T07:47:53.000Z
Updated: 2026-09-28T07:47:53.000Z
Section: Technology

> The exchange said about $388 million in assets were transferred without authorization across multiple networks and will be covered by its user protection fund.

Bitget plans to restore its user protection fund to at least $300 million within one week if it is used to cover about $388 million in assets transferred without authorization, the exchange said Monday.

Bitget CEO Gracy Chen said the transfers occurred across multiple blockchains after an attacker exploited a vulnerability in a third-party security product and used internal credentials to submit falsified withdrawal instructions. The activity bypassed risk controls, according to Bitget.

The incident began at 2:31 a.m. Beijing time Sept. 25, or 2:31 p.m. ET (18:31 UTC) Sept. 24. Bitget said private keys were not exposed and its cold wallets were unaffected.

The exchange said the transferred assets will be covered entirely by its user protection fund. It said the attack path has been identified, the vulnerability has been fixed and the incident is under control.

Bitget has begun an asset-recovery effort and plans to share confirmed vulnerability and transaction-tracking information with relevant industry participants while continuing to publish updates on the movement of the assets.