Crypto exchange Bitget has temporarily stopped withdrawals after a major security breach affected about $351.6 million worth of digital assets.
The incident was detected on September 24, 2026, when Bitget’s security systems noticed unauthorized transfers from some of its cryptocurrency wallets. The exchange quickly activated its emergency security procedures and started investigating the unusual transactions.
The attack affected parts of Bitget’s hot and warm wallet systems. These types of wallets are connected to online systems and are normally used to process transactions more quickly. Bitget said its cold wallets, which store assets offline and provide stronger protection against online attacks, were not affected.
As a safety measure, Bitget temporarily suspended withdrawals while its security teams review the platform and strengthen affected systems. Deposits and regular trading services continue to operate, although some related on-chain services have also faced temporary interruptions during the security review.
Bitget has said that customer account balances remain accurate and user funds are protected. The exchange operates a User Protection Fund worth more than $464 million, which it says is large enough to cover the estimated $351.6 million loss from the incident.
Early findings suggest attackers managed to compromise an important backend system connected to Bitget’s wallet infrastructure. The attackers were reportedly able to create false transaction information and trigger the platform’s authorization process to move funds.
Bitget has also said that the incident does not appear to involve stolen private keys. This is important because private keys provide direct control over cryptocurrency wallets. The exchange says the security breach has now been contained and further unauthorized transfers from the affected system have been blocked.
The company has identified and flagged wallet addresses linked to the suspicious transfers. Law enforcement agencies and blockchain security specialists have also been brought into the investigation as Bitget works to trace the stolen assets and understand exactly how the attackers entered its systems.
The exchange has not announced a confirmed time for restoring withdrawals. The service is expected to return after the security review is completed and the company is confident that its systems can safely process withdrawals again.
The incident once again highlights the cybersecurity risks faced by cryptocurrency exchanges. Because these platforms manage large amounts of digital assets, attackers regularly search for weaknesses in wallets, internal systems and transaction infrastructure.
For Bitget users, the main focus now will be how quickly withdrawal services return, what the full investigation reveals about the attack, and what additional security measures the exchange introduces to prevent a similar breach in the future.
