Bitget confirms a $351.6M breach across hot and warm wallets, September 24, 2026, now the largest crypto exchange hack recorded this year, surpassing the $319M Liquid Network incident from early September.
Cold storage remained untouched. Bitget's User Protection Fund ($464M+) fully covers the shortfall, and CEO Gracy Chen confirmed user funds are not at risk. Withdrawals are paused while deposits and trading continue.
Context: over 207 exchange hacks have hit the industry in H1 2026 alone, totaling $972M in losses, the worst 6 month stretch on record.
The takeaway isn't panic, it's structure. Cold vs hot custody split, proof of reserves, and fund diversification across venues are baseline risk management, not optional.
Verify first. Risk later. Scale slowly.
#CryptoSecurity #ExchangeRisk #BTC
Cold storage remained untouched. Bitget's User Protection Fund ($464M+) fully covers the shortfall, and CEO Gracy Chen confirmed user funds are not at risk. Withdrawals are paused while deposits and trading continue.
Context: over 207 exchange hacks have hit the industry in H1 2026 alone, totaling $972M in losses, the worst 6 month stretch on record.
The takeaway isn't panic, it's structure. Cold vs hot custody split, proof of reserves, and fund diversification across venues are baseline risk management, not optional.
Verify first. Risk later. Scale slowly.
#CryptoSecurity #ExchangeRisk #BTC