Bitget has confirmed that attackers moved about $351.6 million from some of its hot wallets on September 24, 2026. The crypto exchange said customer balances remain intact and that its cold wallets were unaffected.
Bitget CEO Gracy Chen said the exchange detected the unauthorized transfers at 18:31 UTC. According to her announcement, some hot and warm wallets were affected. Bitget paused withdrawals as its security team investigated the incident.
Bitget’s BGB token also fell following the incident, dropping more than 4% as the news spread. The decline adds to the market reaction surrounding the breach, although it does not by itself indicate any impact on the exchange’s reserves or customer balances
What Bitget is Doing Now
Deposits and trading remain available, but users cannot withdraw funds until the security review is complete. Bitget said its User Protection Fund holds more than $464 million and will cover the reported loss.
Meanwhile, the company has not explained how the attackers gained access to the affected wallets. In the security notice, Chen said a detailed report will be published within 24 hours, with further updates to follow as the investigation continues.
As part of the investigation, Bitget has flagged the destination addresses, contacted law enforcement, and brought in blockchain security firms to track the transferred assets. No timeline has been given for the resumption of withdrawals.
“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. Updates will be posted here and across all official Bitget channels as they become available,” Chen stated.
On-chain Data Shows the Funds Moving
Blockchain data shows large transfers from Bitget-linked wallets into a newly created Ethereum address. The receiving address, “0x770b10b273fC44Fe9197D6bF20F145c2e98463Ee,” received several large cryptocurrency transfers before sending part of the funds to other newly created addresses.
On Arbitrum, a Bitget-linked wallet sent 19.67 million USDT0 to the address at 19:01 UTC.
The same wallet also received several large Ethereum transfers. The largest single payment was 13,965.93 ETH, followed by transfers of 7,130.86 ETH, 1,879.2 ETH, and 1,395.9 ETH.
Together, those Ethereum transfers amount to about 24,373 ETH, worth roughly $65 million based on the figures available. The wallet later sent 10,000 ETH to one newly created address and another 10,000 ETH to a second address.
Wallets Linked to the Transfers
The movement of 20,000 ETH explains why the first receiving wallet no longer holds most of the assets it received. About $19.7 million remained in the wallet at the time of reporting, with ETH and AVAX making up most of the balance.
The two Bitget-linked wallets involved in the large Ethereum transfers were labeled “Bitget 6” and “Bitget 35,” with wallet addresses “0x1AB4973a48dc892Cd9971ECE8e01DcC7688f8F23” and “0xffa8DB7B38579e6A2D14f9B347a9acE4d044cD54,” respectively.
Their transaction histories provide a public record of assets moving from addresses associated with Bitget into the new receiving wallet:
- Bitget 6 — Transaction history
- Bitget 35 — Transaction history
However, the blockchain evidence does not account for the entire $351.6 million reported by the exchange. It confirms large transfers from Bitget-linked wallets, while the exchange has not yet published every transaction included in its loss estimate.
Ephraim Emmanuel | October 15, 2026
