An estimated $351.6 million in crypto has been moved from digital asset exchange Bitget’s hot wallets in a suspected hack.
The platform’s CEO said in a Thursday statement that Bitget’s security team activated an emergency response when the movements were detected. Blockchain security firms had flagged the issue earlier in the day.
“At 18:31 UTC on September 24, 2026, Bitget’s security systems detected unauthorized transfers from some of our hot wallets,” Bitget CEO Gracy Chen wrote on X. “Our security team activated emergency response protocols immediately.”
She 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.”
Victoria, Seychelles-based Bitget is the sixth biggest exchange, processing over $1.1 billion in trading volume per day, according to CoinGecko data.
The incident comes as crypto security is in the limelight after a string of breaches this year have the community reeling. Just in July, hackers targeted a firmware bug in the popular bitcoin hardware wallet, Coldcard, to steal nearly $120 million in user funds.
And this month, purported white-hat hackers withdrew about 4,000 bitcoins — worth about $320 million at the time — from Blockstream’s Liquid sidechain’s federation wallet.
Chen added that the exchange’s cold wallets remained fully secure and that user funds were safe.
She wrote: “Bitget operates a three-tier wallet architecture — the breach contained only a portion of the hot wallet and warm wallet layers.”
According to the statement, deposits and trading remain fully operational but withdrawals are temporarily paused until a security review is complete.
Blockchain data firm Arkham Intelligence created a dashboard soon after the unauthorized transfers showing that a number of different cryptocurrencies — including stablecoins — had been moved from the Bitget hot wallet.
While Bitcoin was not on Arkham’s list, crypto security firm Hacken later said on X that the largest cryptocurrency had been moved.