RismadarVoice Reporters
September 25, 2026
Cryptocurrency exchange Bitget has reported the theft of about $351.6 million in digital assets after hackers gained unauthorised access to part of its wallet infrastructure.
The exchange said its security systems detected suspicious transfers from some hot wallets at 18:31 UTC on Thursday, September 24, prompting the activation of emergency response procedures.
According to Bitget, the breach affected portions of its hot and warm wallet infrastructure, while its cold wallets remained secure.
Withdrawals were temporarily suspended as a precaution, although the company said deposits and trading continued normally.
Bitget assured customers that the losses were covered by its User Protection Fund, which it said held more than $464 million.
“User funds are safe. The full amount of this loss falls within the coverage of Bitget’s User Protection Fund,” the company said.
Bitget Chief Executive Officer, Gracy Chen, said preliminary investigations indicated that the attackers compromised a critical backend system within the exchange’s wallet infrastructure.
According to Chen, the attackers allegedly manipulated transaction information and used the compromised system to trigger Bitget’s own authorisation process.
She said investigators had ruled out the compromise of private keys and that the incident had been contained, preventing further unauthorised transfers.
Investigations are continuing to determine how the attackers initially gained access to the backend system.
The affected assets reportedly included Ethereum, XRP, BNB, Avalanche, USDT, USDC and other cryptocurrencies across several blockchain networks.
Bitget said it had contacted relevant blockchain foundations and cybersecurity firms to assist in tracking the stolen assets and freezing addresses associated with the transfers where possible.
Chen said preliminary analysis had identified similarities between the attack and techniques previously associated with North Korean hacking operations, but stressed that investigators had yet to establish who was responsible.
The company said law enforcement agencies and blockchain security firms had also been notified.
Technical teams are carrying out security remediation and strengthening affected systems before withdrawals resume.
Bitget has not announced a specific date for restoring withdrawals, saying services would reopen only after security checks were completed.
The company also clarified that Bitget Wallet, its decentralised wallet product, operates separately from the exchange infrastructure and was not affected.
Bitget said it would publish a detailed technical report on the cause of the breach and measures taken to prevent a recurrence after its investigation is completed.
