Overview
- Bitget detected unauthorised transfers from some hot and warm wallets on Sept. 24 and later said about $351.6 million was moved from its internet-connected wallet layers.
- The company says attackers compromised a backend wallet system and falsified transaction data to pass normal authorisation checks, and that private keys and cold wallets were not taken.
- Withdrawals remain suspended while deposits and trading continue, and Bitget has engaged Mandiant, SlowMist and law enforcement and promised a full technical report within 24 hours.
- On-chain trackers show the haul spanned multiple tokens and chains with large XRP and ETH components, and early public estimates significantly undercounted assets that later appeared in Bitget’s total.
- Bitget says its User Protection Fund of more than $464 million will cover the loss, but the incident raises fresh scrutiny of exchange wallet systems and could affect users who cannot access withdrawals until reviews finish.