More than $351 million is believed to have been taken from crypto exchange Bitget in what has emerged as 2026's largest known digital-asset theft, underscoring the risks exchanges face when online reserves are compromised.
Here's what to know
In X posts cited by TechCrunch, Bitget said that crypto was transferred out of the exchange's hot wallets without authorization. Those wallets are kept online for active trading, and the company said it paused crypto withdrawals across its network as it responds. By value, the loss is the biggest known crypto hack of 2026.
At 18:31 UTC on September 24, 2026, Bitget's security systems identified unauthorized transfers involving a limited number of hot wallets. Our security team immediately activated emergency response procedures and began a full investigation. Based on our current assessment, approximately $351.6 million in assets were affected. Bitget's cold wallets and the overwhelming majority of platform assets remain secure and unaffected. Most importantly, user funds remain protected. The incident falls within the coverage of Bitget's User Protection Fund, which currently holds more than $464 million. Customer account balances remain accurate, and deposits and trading continue to operate normally. As a precaution, withdrawals have been temporarily suspended while our teams complete a comprehensive security review. We have identified and flagged the relevant transfer addresses and have formally engaged law enforcement agencies and leading on-chain security partners. We are working around the clock to restore withdrawal services as soon as it is safe to do so. Bitget will provide further updates through our official channels. We will not speculate on the attack vector while the investigation remains ongoing. Our focus is on protecting users, securing all systems, and delivering complete transparency throughout this process.
— Bitget (@bitget) September 24, 2026
The exchange said its $464 million user protection fund should be sufficient to absorb the losses from the breach. Bitget has not provided a timeline for reopening withdrawals.
Gracy Chen, Bitget's chief executive, said the attack appears to match patterns associated with North Korean hacking groups.
According to TechCrunch, the incident surpassed a separate $340 million hack in September in which all but $47 million of the stolen funds were later returned.
More background
Crypto exchanges remain attractive targets because they can hold enormous sums in assets that can be moved quickly across borders. Hot wallets are especially useful for trading, but their internet connection can also make them a more exposed point of attack than offline storage.
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Citing blockchain intelligence firm TRM Labs, TechCrunch reported that North Korea was responsible for about three-quarters of crypto thefts recorded during 2026.
Suspended withdrawals can lock people out of money they may need, and any breach can undermine confidence in platforms that market themselves as secure gateways to a new financial system.
Bitget has kept crypto withdrawals on its network suspended. Its protection fund is the clearest immediate backstop.
Chen said the breach was "highly consistent with known patterns of North Korean hacker organizations."
Where can I learn more?
Crypto-related crime shows up in many forms beyond exchange hacks, as these stories expand on.
• The Justice Department seized $2.8 million in crypto tied to ransomware, fraud, and money-laundering charges.
• Former SEC officials warned crypto gains can vanish when risk and hype outrun safeguards.
• In Malaysia, a state utility lost $1.1 billion to invisible thieves stealing power for illegal crypto mining.
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