WuBlockchain
Bitget CEO Gracy Chen said the exchange detected unauthorized transfers from some hot wallets at 2:31 p.m. ET on September 24, with approximately $351.6 million affected. Earlier monitoring had identified three hot wallets and one cold wallet as suspected compromises, with more than $170 million moved and swapped into ETH.
Why it matters
Bitget said the incident was limited to parts of its hot and warm wallet layers and that its cold wallets remained secure. The exchange has not confirmed the attack vector or final losses, but the scale makes wallet segregation and withdrawal controls central concerns for users and other exchanges.
Market impact
Bitget temporarily suspended withdrawals while leaving deposits and trading operational. The exchange said its User Protection Fund holds more than $464 million and fully covers user funds. It has flagged the transfer addresses, contacted law enforcement and security firms, and plans hourly updates plus a root-cause report within 24 hours.
Frequently asked questions
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How much did Bitget say was affected in the wallet incident?
Bitget CEO Gracy Chen said approximately $351.6 million was affected. Earlier monitoring identified more than $170 million in assets moved and swapped into ETH.
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Which Bitget wallets were suspected of compromise?
Monitoring identified three hot wallets and one cold wallet as suspected compromises. Bitget later said the incident was limited to parts of its hot and warm wallet layers.
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Did Bitget suspend trading and deposits?
Bitget temporarily suspended withdrawals, while deposits and trading remained operational.
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Are Bitget user funds covered after the incident?
Bitget said user funds are fully covered by its User Protection Fund, which holds more than $464 million.
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What is Bitget doing to investigate the transfers?
Bitget flagged the transfer addresses, notified law enforcement and on-chain security firms, and said it would provide hourly updates and publish a root-cause report within 24 hours.
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