Crypto Exchange Bitget Says Hackers Stole $352 Million

Crypto exchange Bitget reported an estimated $351.6 million in unauthorized transfers from some of its wallets and temporarily suspended withdrawals.

“User funds are safe,” Chief Executive Gracy Chen said in a post on X early Friday in Singapore. “The full amount of this loss falls within the coverage of Bitget’s User Protection Fund, which currently holds over $464 million.”

The hack continues a spate of recent attacks that have put crypto cybersecurity in the spotlight. Earlier this month, $320 million worth of Bitcoin was drained from a wallet used by Liquid Network, while in August the hack of the popular offline Bitcoin wallet Coldcard raised questions about the safest way to store the digital asset.

Founded in 2018, Bitget is one of the leading centralized crypto exchanges globally. It was among those that grew rapidly after the collapse of FTX in 2022 as traders shifted activity to surviving platforms. The Seychelles-registered exchange currently has 120 million registered users, according to its website.

The hack “is one of the most substantive centralized exchange exploits of 2026” and “another wake-up call for the digital-assets industry,” said Esme Pau, head of capital markets and policy at blockchain security firm CertiK. “The scale of the drain at around three quarters of the exchange’s User Protection Fund transcends a security lapse and makes it a crisis event.”