Bitget Hack Update: Loss Revised to $387.5M
Crypto exchange Bitget has revised its hack loss estimate upward to approximately $387.5 million, up from an initial $351.6 million reported on September 24, 2026, after on-chain tracing uncovered additional stolen Zcash (ZEC) and Tron (TRX) assets.
CEO Gracy Chen confirmed the breach came from a compromised backend wallet system that spoofed transfer data to trigger Bitget's own authorization process — private key compromise has been ruled out. Cold wallets stayed secure throughout, and deposits and trading remain online; withdrawals are still paused pending a security review, with a withdrawal plan expected by 04:00 UTC on September 26.
On-chain trackers report the attacker has been laundering portions of the stolen ETH, converting some into BTC through cross-chain routes. Bitget's User Protection Fund holds over $464 million, though the revised loss narrows that cushion to roughly $76.5 million before any recovered funds are factored in.
Binance, Bybit, and security firms including Mandiant and SlowMist are assisting recovery efforts, and Tether has already frozen a portion of the stolen USDT. Market-wide impact has stayed contained, with BTC and ETH prices largely unaffected.
This remains a developing story. Not financial advice. Informational purposes only.
$BTC
$ETH
#BitgetHacked
Crypto exchange Bitget has revised its hack loss estimate upward to approximately $387.5 million, up from an initial $351.6 million reported on September 24, 2026, after on-chain tracing uncovered additional stolen Zcash (ZEC) and Tron (TRX) assets.
CEO Gracy Chen confirmed the breach came from a compromised backend wallet system that spoofed transfer data to trigger Bitget's own authorization process — private key compromise has been ruled out. Cold wallets stayed secure throughout, and deposits and trading remain online; withdrawals are still paused pending a security review, with a withdrawal plan expected by 04:00 UTC on September 26.
On-chain trackers report the attacker has been laundering portions of the stolen ETH, converting some into BTC through cross-chain routes. Bitget's User Protection Fund holds over $464 million, though the revised loss narrows that cushion to roughly $76.5 million before any recovered funds are factored in.
Binance, Bybit, and security firms including Mandiant and SlowMist are assisting recovery efforts, and Tether has already frozen a portion of the stolen USDT. Market-wide impact has stayed contained, with BTC and ETH prices largely unaffected.
This remains a developing story. Not financial advice. Informational purposes only.
$BTC
$ETH
#BitgetHacked
