Cryptocurrency exchange Bitget has disclosed that approximately $351.6 million was affected after hackers gained unauthorised access to part of its wallet infrastructure. The exchange said its security systems detected suspicious transfers from some of its hot wallets at 18:31 UTC on September 24, 2026, prompting the activation of emergency response procedures. 

Bitget said the incident was confined to portions of its hot and warm wallet layers, while its cold wallets remained secure. The company temporarily suspended withdrawals as a precaution, although deposits and trading continued. Bitget said the affected amount was covered by its User Protection Fund, which it said held more than $464 million.

According to CEO Gracy Chen, the attackers compromised a critical backend system within the wallet infrastructure, used it to spoof transaction data and triggered the exchange’s authorisation process to transfer the funds. Chen said an investigation had ruled out a private-key compromise and that further unauthorised transfers had been prevented. The exact method used to gain access to the backend system remains under investigation.

The affected assets reportedly included ETH, XRP, BNB, AVAX, USDT and USDC across several blockchain networks. Bitget said it had identified and flagged addresses associated with the transfers and notified law-enforcement agencies and blockchain security firms. Chen also said the exchange’s analysis had found similarities with known North Korean hacking operations, although the investigation into the attackers’ identity is ongoing.