[REVISION HISTORY]

Bitget exchange security and fund status

Updated 2 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-24 23:23 UTC → 2026-09-25 02:03 UTC · added ~~removed~~

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.

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