Bitget says hackers stole about $351.6 million in cryptocurrency from parts of its wallet infrastructure on September 24, making the incident the largest publicly reported crypto theft of 2026 so far. CEO Gracy Chen said preliminary findings suggest the attack is highly consistent with techniques associated with North Korean hacking groups, although the investigation remains ongoing.
The breach affected portions of Bitget’s hot and warm wallets, which are connected to systems used for active transactions. Cold wallets remained secure, according to the exchange.
Bitget Suspends Withdrawals During Security Review
In its official security notice, Bitget said its systems detected unauthorized transfers at 18:31 UTC and activated emergency procedures within minutes. The company identified and flagged the destination addresses while notifying law enforcement and blockchain security firms.
Bitget temporarily suspended withdrawals while it conducts a security review, although deposits and trading remain available. The company said customer account balances remain accurate and that users will not bear the losses.
Bitget says its User Protection Fund currently holds more than $464 million, enough to cover the estimated $351.6 million loss. The fund was established in 2022 as an additional reserve for protecting users during major security incidents.
Chen said the characteristics of the breach were consistent with known North Korean operations. The exchange has not yet published a final attribution or detailed explanation of how the attackers gained access.
North Korean Groups Remain a Major Crypto Threat
North Korean hacking groups have repeatedly targeted cryptocurrency companies as a source of revenue. They have been linked to attacks involving social engineering, compromised credentials, malicious software and attacks on infrastructure that controls digital assets.
TRM Labs attributed about $600 million, or 61% of cryptocurrency stolen during the first half of 2026, to North Korea-linked activity. Two large attacks in April accounted for most of that amount.
The Bitget theft surpasses a $340 million crypto hack earlier in September, in which the attacker later returned most of the stolen assets. That incident ultimately left about $47 million unrecovered.
According to TechCrunch, Bitget had not provided a timetable for restoring withdrawals at the time of reporting. The exchange said a full incident report covering the root cause and corrective measures would follow after its investigation.
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