Bitget pauses withdrawals after nearly $352M moved from hot wallets

Roughly $351.6 million moved out of Bitget's hot wallets

Crypto exchange Bitget says it detected unauthorized transfers from some of its hot wallets, with an estimated $351.6 million moved out in what is being treated as a suspected hack. A hot wallet is a crypto wallet connected to the internet so it can handle day-to-day transfers.

The exchange's CEO, Gracy Chen, said the company's security team activated emergency response protocols right away. Deposits and trading are still running, but withdrawals are temporarily paused until a security review is finished.

Key numbers and details

• About $351.6 million in crypto was moved, based on the estimate in the report.
• The transfers were detected at 18:31 UTC on September 24, 2026, according to Chen.
• Bitget is based in Victoria, Seychelles and is described as the sixth biggest exchange, processing over $1.1 billion in trading volume per day, according to CoinGecko data.
• Withdrawals are paused. Deposits and trading remain operational.

What the Bitget CEO said

In a statement posted on X on September 24, 2026, Chen said: "At 18:31 UTC on September 24, 2026, Bitget's security systems detected unauthorized transfers from some of our hot wallets. Our security team activated emergency response protocols immediately."

She also said the exchange's cold wallets — wallets kept offline — remained fully secure and that user funds were safe. According to her statement, the breach was contained to a portion of the hot wallet and warm wallet layers.

Chen added: "Bitget has navigated multiple market cycles. We will not run from this. Every dollar and every decision will be accounted for, transparently and in full."

What blockchain trackers reported

Blockchain security firms had flagged the issue earlier in the day. Blockchain data firm Arkham Intelligence created a dashboard soon after the transfers, showing that several different cryptocurrencies, including stablecoins, had been moved from the Bitget hot wallet. A stablecoin is a crypto token designed to hold a steady value, usually tied to a government currency.

Bitcoin was not on Arkham's list. Crypto security firm Hacken later said on X that bitcoin had also been moved. The two accounts differ on this point, and the supplied material does not settle which assets were involved.

What is confirmed

• Bitget detected unauthorized transfers from some hot wallets on September 24, 2026, according to its CEO.
• An estimated $351.6 million was moved.
• Withdrawals are temporarily paused; deposits and trading continue.
• Arkham Intelligence published a dashboard of assets moved from the hot wallet.

What is still unclear

The supplied material does not identify who was behind the transfers, how the access was gained, or whether any funds have been recovered or returned. The exact list of assets taken is also unresolved: Arkham's list did not include bitcoin, while Hacken said it was moved. Bitget's claim that cold wallets are secure and user funds are safe is a company statement, and the review of the incident is described as ongoing.

Why this is being watched closely

The incident comes during a year of repeated crypto security breaches. In July, hackers targeted a firmware bug in the bitcoin hardware wallet Coldcard and stole nearly $120 million in user funds, according to the report. Earlier this month, purported white-hat hackers withdrew about 4,000 bitcoins, worth about $320 million at the time, from Blockstream's Liquid sidechain federation wallet.

Sources

• Bitcoin Magazine

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