🚨 BITGET HIT BY A $351.6M SECURITY BREACH — HERE’S WHAT HAPPENED 🔥
$Crypto exchange Bitget has confirmed a major security incident after unauthorized transfers were detected from some of its hot wallets on September 24.
According to Bitget CEO Gracy Chen, around $351.6 million in assets were affected. The exchange says its cold wallets remain secure, while only part of its hot and warm-wallet infrastructure was impacted.
Bitget says customer balances and assets remain protected, backed by a User Protection Fund holding more than $464 million. The exchange also recently reported a 135% total reserve ratio in its September Proof of Reserves update.
Deposits and trading remain operational, but withdrawals have been paused while Bitget completes its security review. The company says abnormal addresses have been identified and reported, while law enforcement and blockchain-security firms have been contacted.
Before Bitget’s official confirmation, blockchain researchers noticed unusual movements involving assets such as ETH, BNB, AVAX and USDT0. Early estimates were lower, but additional transfers pushed the reported exposure toward the $351.6M figure.
The biggest unanswered question is how the attackers gained access. Bitget says it will not speculate on the attack vector until the investigation is complete and has promised a detailed incident report within 24 hours.
Bitget’s native BGB token, while BTC and ETH saw comparatively limited immediate moves.
This is another reminder that exchange security, wallet architecture and withdrawal controls remain critical risks in crypto—even when trading itself continues normally.
#Bitget #BitgetHack #cryptouniverseofficial o #Bitcoin #Ethereum #BGB #CryptoNewsCommunity #Blockchain #DeFi #Web3 #CryptoSecurity #BTC #ETH
$Crypto exchange Bitget has confirmed a major security incident after unauthorized transfers were detected from some of its hot wallets on September 24.
According to Bitget CEO Gracy Chen, around $351.6 million in assets were affected. The exchange says its cold wallets remain secure, while only part of its hot and warm-wallet infrastructure was impacted.
Bitget says customer balances and assets remain protected, backed by a User Protection Fund holding more than $464 million. The exchange also recently reported a 135% total reserve ratio in its September Proof of Reserves update.
Deposits and trading remain operational, but withdrawals have been paused while Bitget completes its security review. The company says abnormal addresses have been identified and reported, while law enforcement and blockchain-security firms have been contacted.
Before Bitget’s official confirmation, blockchain researchers noticed unusual movements involving assets such as ETH, BNB, AVAX and USDT0. Early estimates were lower, but additional transfers pushed the reported exposure toward the $351.6M figure.
The biggest unanswered question is how the attackers gained access. Bitget says it will not speculate on the attack vector until the investigation is complete and has promised a detailed incident report within 24 hours.
Bitget’s native BGB token, while BTC and ETH saw comparatively limited immediate moves.
This is another reminder that exchange security, wallet architecture and withdrawal controls remain critical risks in crypto—even when trading itself continues normally.
#Bitget #BitgetHack #cryptouniverseofficial o #Bitcoin #Ethereum #BGB #CryptoNewsCommunity #Blockchain #DeFi #Web3 #CryptoSecurity #BTC #ETH