# Bitget exchange security and fund status

> Live situation record from CLSTR: https://clstr.news/situations/bitget-exchange-security-and-fund-status
> Updated: 2026-09-24T17:34:04.000Z. Sources: 30. Developments: 2.

In August 2026, Bitget reported that its Protection Fund reached an average valuation of $382 million, bolstered by a Bitcoin rally that saw prices rise over 25% during the month. The fund, intended to safeguard user assets during market volatility, ended August at approximately $432 million.

On September 24, 2026, Bitget confirmed a major security breach involving the unauthorized transfer of approximately $351.6 million from its hot and warm wallet infrastructure. The incident was detected at 18:31 UTC and was contained within the hot and warm wallet layers; the exchange’s cold wallets remained secure. The stolen assets included Ethereum (ETH), Tether (USDT), USD Coin (USDC), Avalanche (AVAX), Binance Coin (BNB), and gold-backed XAUT.

CEO Gracy Chen clarified that the breach resulted from an infiltration of the wallet service’s core backend system, where attackers forged transaction data to trigger unauthorized authorization signatures. Chen emphasized that private keys were not leaked and that the incident has been contained. On-chain analysts noted the attacker moved assets across multiple networks and rapidly converted stablecoins into Ethereum to prevent issuers from freezing them.

In response, Bitget temporarily suspended all withdrawals to conduct a security review and has notified law enforcement while collaborating with on-chain security firms. CEO Gracy Chen stated that the company’s User Protection Fund, which holds over $464 million, is expected to cover the full extent of the losses, ensuring user funds remain safe. The exchange promised a full incident report within 24 hours.

## Claims

- Bitget confirmed a security breach on September 24, 2026, with estimated losses of approximately $351.6 million. (corroborated by 12 sources)
- Bitget founder Gracy Chen stated that user funds remain safe and the incident was contained to hot and warm wallet layers. (corroborated by 11 sources)
- The exchange's $464 million-plus protection fund is expected to cover the full extent of the losses. (corroborated by 8 sources)
- The attacker moved assets including ETH, USDT, USDC, AVAX, BNB, and XAUT across multiple blockchain networks. (corroborated by 8 sources)
- Bitget has temporarily suspended withdrawals while conducting a security review and plans to issue a full report within 24 hours. (corroborated by 6 sources)
- The attacker rapidly converted stolen stablecoins into Ethereum to prevent them from being frozen by issuers. (corroborated by 5 sources)
- The hacker infiltrated the core backend system of the wallet service to forge transfer information and trigger authorization signatures. (corroborated by 2 sources)
- Bitget confirmed that private keys were not leaked during the incident. (corroborated by 2 sources)

## Timeline

### 2026-09-24: Bitget confirms $351.6 million security breach via hot wallet exploit

Bitget confirmed a $351.6 million security breach on September 24, 2026, affecting hot and warm wallets. The exchange has suspended withdrawals but stated that user funds are protected by its $464 million fund.

27 sources. https://clstr.news/cluster/bitget-exchange-faces-suspected-hack-involving-over-170-million

### 2026-09-14: Bitget Protection Fund averages $382M in August amid Bitcoin rally

Bitget's Protection Fund averaged $382 million in August 2026, bolstered by a 25% rally in Bitcoin prices during the month.

3 sources. https://clstr.news/cluster/bitget-protection-fund-averages-382m-in-august-amid-bitcoin-rally

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Cite as: Bitget exchange security and fund status. CLSTR, https://clstr.news/situations/bitget-exchange-security-and-fund-status