Cryptocurrency exchange Bitget has disclosed that approximately $351.6 million in digital assets was affected by a security breach after attackers gained unauthorised access to part of its wallet infrastructure, prompting the exchange to suspend withdrawals while it investigates the incident. Bitget said its security systems detected the unauthorised transfers at 18:31 UTC on Thursday, September 24, 2026.
Key Highlights
- Bitget said approximately $351.6 million in crypto assets was affected.
- The breach was limited to portions of the exchange’s hot and warm wallet infrastructure.
- Bitget said its cold wallets remained secure and unaffected.
- Withdrawals were temporarily suspended, while deposits and trading remained operational.
- The exchange said its User Protection Fund holds more than $464 million and covers the reported loss.
- Bitget said preliminary analysis showed similarities with known North Korean hacking operations, although the investigation is ongoing.
Bitget Detects Unauthorised Transfers
Bitget said its security systems detected unusual transfers from some of its hot wallets at 18:31 UTC on September 24, triggering its emergency response procedures.
The exchange said the incident affected only part of its hot and warm wallet layers within its three-tier wallet architecture. Its cold wallets, which are kept offline, were not affected, according to the company.
Bitget initially estimated the value of the affected assets at approximately $351.6 million.
Withdrawals Suspended After Bitget Hack
Following the breach, Bitget temporarily suspended withdrawals as a precaution while its security teams conducted a review.
The exchange said deposits and trading remained operational during the investigation.
Bitget also said customer account balances remained accurate and that the reported loss was covered by its User Protection Fund, which it said held more than $464 million.
The exchange has not announced a definite time for the restoration of withdrawals, saying services would resume after the security review and system remediation were completed.
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Attackers Compromised Bitget Backend System
In a subsequent update, Bitget CEO Gracy Chen provided more information about how the attackers moved the assets.
Chen said the attackers compromised a critical backend system within Bitget’s wallet infrastructure and used it to manipulate transaction data and trigger the exchange’s authorisation process. She said the investigation had ruled out a compromise of private keys.
According to Chen, the breach had been contained and Bitget had prevented further unauthorised transfers.
The specific method used by the attackers to gain access to the backend system remains under investigation. Bitget said it will publish a detailed technical report after the findings have been confirmed.
ETH, XRP, BNB Among Affected Assets
The affected assets reportedly included Ethereum (ETH), XRP, BNB, Avalanche (AVAX), Tether (USDT), USD Coin (USDC) and other cryptocurrencies.
Bitget said the affected transactions involved multiple blockchain networks, including Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BNB Smart Chain and Base.
The exchange also said it had contacted the foundations of affected blockchain networks, with some reportedly taking steps to freeze addresses linked to the attackers.
Bitget Investigates Possible North Korean Link
Bitget is also investigating a possible connection between the attack and North Korean cybercrime groups.
Chen said preliminary analysis of IP behaviour and on-chain activity showed similarities with known North Korean hacking operations.
However, the suspected connection has not been independently established, and the investigation remains ongoing. Recent reports said Chen pointed to IP addresses and VPN patterns associated with previous North Korean operations as part of the preliminary assessment.
Bitget said it had notified law enforcement agencies and blockchain security firms and was cooperating with a wider investigation.
Bitget Wallet Not Affected
Chen also clarified that Bitget Wallet, the company’s decentralised wallet product, was not affected by the incident.
She said Bitget Wallet operates separately from the infrastructure used by the cryptocurrency exchange. The exchange therefore said the security breach did not affect Bitget Wallet users.
Bitget Works To Restore Withdrawals
Bitget said several technical teams were working on system remediation, security hardening and recovery efforts.
The company has declined to provide a specific timeframe for restoring withdrawals until the security review is complete.
Bitget said it would continue providing updates and publish a full incident report covering the root cause, investigation findings and corrective measures. The exchange has also said it is pursuing available channels to contain the incident and recover affected assets.
The reported $351.6 million Bitget hack has emerged as a major cryptocurrency security incident, with the exchange maintaining that its cold-wallet infrastructure and customer funds remain protected while investigations continue.
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