The company will cover the losses using its User Protection Fund, which currently holds over $464 million to ensure user balances remain accurate. On-chain data from Etherscan shows more than $180 million in ETH, stablecoins, tokenized gold, and AVAX moving to a new address tagged as "Bitget Exploiter 1." Bitget has notified law enforcement and on-chain security firms and plans to publish a full incident report within 24 hours.
Tuesday, October 20, 2026
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Bitget Loses $351.6 Million in Largest Hack of 2026
Crypto26 days ago
Unauthorized transfers hit the hot and warm wallet layers of Bitget at 18:31 UTC on September 24. The exchange lost approximately $351.6 million from those accounts, which led the company to immediately suspend all withdrawals as a precautionary measure. While the breach affected specific wallet tiers, Bitget CEO Gracy Chen confirmed that cold wallets remain secure, and both deposits and trading remain operational.
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