Nearly $352M Moved From Crypto Exchange Bitget Wallets in Suspected Hack
Bitget said unauthorized transfers hit parts of its hot and warm wallet infrastructure on Sept. 24, with about $351.6 million affected and withdrawals paused while the exchange reviewed the incident. The exchange said cold wallets were not impacted, deposits and trading continued, and its user protection fund was meant to cover the loss. Several statements from Bitget’s CEO pointed to a likely North Korean connection, while other coverage said investigators were still examining the backend system involved.
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Bitget users and traders noticed a pause in withdrawals after the Sept. 24 incident, while deposits and trading remained available. The exchange also said customer balances would stay intact and that the loss fell under its protection fund, which directly affects how account holders see their funds today.
In practice, the event shifted the focus from cold-wallet storage to the systems that prepare and move transactions inside the exchange. Cold wallets were described as unaffected, and Bitget Wallet was said to operate separately from the exchange and not be impacted, so those parts remained open as before even while withdrawal access was halted.
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Thefts of a similar size
| When | What happened | Figure |
|---|---|---|
| 23 days ago | Bitget · Hot Wallet Key Compromised incident | $387M |
| 4.7 years ago | Portal · Signature Verification Flaw incident | $326M |
| 41 days ago | Liquid Network incident | $320M |
| 2.4 years ago | DMM Bitcoin incident | $305M |
| 7 months ago | Drift Trade · Proxy Upgrade Hijack incident | $295M |
4197 incidents stored · 21 were as large as this one or larger ($352M)
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