Bitget’s $351.6 million hack pushes September crypto losses to 2026 high

According to CryptoSlate, Bitget suspended withdrawals after unauthorized transfers drained approximately $351.6 million from some of its hot and warm wallets. Chief Executive Officer Gracy Chen stated that the breach occurred on Sept. 24, 2026, and involved fifteen transfers across seven assets, with Ethereum accounting for the largest share at 44.4%. CryptoSlate reports that cold wallets and most platform assets remained unaffected.

Bitget stated that customer balances remain accurate and that the losses are fully covered by its User Protection Fund, which holds more than $464 million. Deposits and trading continued to operate normally while withdrawals remained paused pending a security review. The exchange has flagged connected addresses, notified law enforcement agencies and on-chain security firms, and promised a full incident report.

CryptoSlate notes that this breach pushed September crypto thefts above April's total, making September the costliest month for crypto exploits in 2026 so far. Gross losses for the month were estimated to surpass $684 million, though the figure could change depending on asset recoveries and ongoing investigations.