# Bitget Raises Loss Estimate to $387.5 Million After Wallet Breach

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/24955
Published: 2026-09-28T14:46:56.000Z
Updated: 2026-09-28T14:46:56.000Z
Section: Technology

> The exchange said cold wallets and user balances were unaffected, while blockchain records showed funds moving across eight networks for nearly three hours.

Bitget revised its estimate of assets affected by unauthorized wallet transfers to approximately $387.5 million, highlighting the limits of emergency controls once crypto moves across multiple blockchains.

The exchange initially put the figure at $351.6 million before adding transactions involving Zcash and TRON. Bitget said the revision did not include transfers made after containment. It detected abnormal activity at 2:31:11 p.m. ET (18:31:11 UTC) on Sept. 24 and paused withdrawals during its response.

The affected assets included XRP, Ether (ETH), Tether (USDT), Zcash (ZEC), USD Coin (USDC), BNB, Avalanche (AVAX) and TRON (TRX). Bitget said cold wallets and user account balances were unaffected, and that the loss fell within a protection fund holding more than $464 million.

Blockchain records showed 21 transfers across eight networks. Funds continued leaving Bitget-linked wallets until 5:23 p.m. ET (21:23 UTC), nearly three hours after detection. About $339,000 in USDC and USDT was frozen.

Bitget launched a recovery bounty offering 5% of funds successfully frozen and another 5% of funds recovered. The incident underscores the difference between exchange-level and blockchain-level controls: Bitget can halt its own withdrawals, stablecoin issuers can freeze their tokens, but native assets such as ETH and XRP have no central issuer that can stop transfers.