Crypto exchange Bitget, based in Seychelles, lost up to US$351.6 million in a breach on September 24 and temporarily paused withdrawals as it reviewed unauthorized transfers from some hot wallets, CEO Gracy Chen said.

Bitget said its cold wallets and user funds were safe. Bockchain researchers earlier flagged about US$183 million unusual transfer from wallets linked to the exchange.

Arkham Intelligence, a blockchain analytics firm, later said the transactions involved 3 Bitget hot wallets and 1 cold wallet across multiple blockchains before the funds were consolidated into 1 address.

Chen said Bitget’s user protection fund held more than US$464 million. The exchange had previously reported the fund at US$451 million in March 2026.

Bitget has also published monthly proof-of-reserves updates, and said in September that coverage had expanded to more than 20 assets.

If confirmed, the loss would exceed the US$320 million stolen from Liquid Network earlier in September and could be the biggest crypto hack of 2026.

🔗 Source: CoinDesk

Recent Bitget developments