● Covered by 5 sources · 5 reportsMedium impact5 negativeDeveloping
Bitget crypto exchange reports $351.6 million stolen from hot and warm wallets
Key points
- Bitget lost $351.6 million from hot and warm wallets.
- The User Protection Fund, holding $464 million, will cover losses.
- Withdrawals are temporarily suspended during investigation.
- North Korean hackers are suspected based on attack patterns.
- Attack occurred at 18:31 UTC on September 24, 2026.
- Bitget's cold wallets and most platform assets are secure.
- Customer account balances are accurate; deposits and trading operate normally.
- Bitget enlisted Mandiant and SlowMist for investigation.
- Bitget Wallet was not affected by the incident.
- Impacted assets include ETH, XRP, BNB, AVAX, USDT, USDC.
- Affected chains include Ethereum, XRP Ledger, Arbitrum, Avalanche.
- The attack is the largest crypto heist of the year.
- Bitget CEO Gracy Chen stated the attack methods are highly consistent with North Korean hacker organizations.
- The incident has been reported to relevant authorities.
- Bitget was founded in 2018.
- XRP accounts for the largest loss on a single chain.
- The initial estimate of losses amounts to $387.5 million.
- Bitget's security team initially detected unauthorized transfers and activated emergency protocols.
- Law enforcement and other crypto platforms were notified about the incident.
Bitget Suffers Significant Breach
Cryptocurrency exchange Bitget disclosed a security breach resulting in the theft of $351.6 million from its hot and warm wallets. The incident was detected on Thursday evening when security systems flagged unauthorized transfers.
Bitget has temporarily halted all withdrawals to facilitate an investigation. The company is collaborating with law enforcement, on-chain security institutions, and cybersecurity experts from Mandiant and SlowMist.
Unaffected Assets and User Protection
Bitget confirmed that its self-custodial Bitget Wallet was not impacted, as it operates on separate infrastructure. The majority of platform assets and cold wallets remain secure.
The company stated that its User Protection Fund, which currently holds approximately $464 million, will cover all losses incurred by the incident. Customer account balances and trading operations are unaffected.
Attack Vector and Suspected Perpetrators
Bitget CEO Gracy Chen indicated that the attack involved multiple blockchain networks, including Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BSC, and Base, affecting assets like ETH, XRP, BNB, AVAX, USDT, and USDC. XRP experienced the largest single-chain loss.
The attack method, involving compromise of a critical backend wallet-service system to spoof transaction data and trigger authorization, is consistent with known patterns of North Korean hacker organizations. Some hacker wallet addresses have reportedly been frozen.
Updates
- The attack is the largest crypto heist of the year.
- Bitget CEO Gracy Chen stated the attack methods are highly consistent with North Korean hacker organizations.
- The incident has been reported to relevant authorities.
- Bitget was founded in 2018.
- XRP accounts for the largest loss on a single chain.
- The initial estimate of losses amounts to $387.5 million.
- Bitget's security team initially detected unauthorized transfers and activated emergency protocols.
- Law enforcement and other crypto platforms were notified about the incident.
- Attack occurred at 18:31 UTC on September 24, 2026.
- Bitget's cold wallets and most platform assets are secure.
- Customer account balances are accurate; deposits and trading operate normally.
- Bitget enlisted Mandiant and SlowMist for investigation.
- Bitget Wallet was not affected by the incident.
- Impacted assets include ETH, XRP, BNB, AVAX, USDT, USDC.
- Affected chains include Ethereum, XRP Ledger, Arbitrum, Avalanche.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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How outlets covered it
Crypto exchange Bitget suffered a breach resulting in the theft of $387.5 million, with CEO Gracy Chen attributing the attack to North Korean hackers. The company is using its $464 million User Protection Fund to cover losses and has suspended withdrawals while working with security firms and law enforcement.
Cryptocurrency exchange Bitget reported a theft of approximately $351.6 million in digital assets, attributing the attack methods to known North Korean threat actors. The incident involved unauthorized transfers from hot wallets, prompting an investigation with external security firms and notification to authorities.
Cryptocurrency exchange Bitget experienced a cyberattack resulting in the theft of over $351 million from its hot wallets, with North Korean hackers suspected as the perpetrators. This incident marks the largest crypto heist of the year and highlights ongoing security vulnerabilities in the digital currency sector.
Cryptocurrency exchange Bitget announced that suspected North Korean threat actors stole $351.6 million from its hot and warm wallets. The attack compromised a critical backend system, leading to unauthorized transfers of various cryptocurrencies across multiple chains.
Cryptocurrency exchange Bitget announced that hackers stole $351.6 million from its hot and warm wallets. The company has suspended withdrawals and is investigating the incident, stating its User Protection Fund will cover all losses.