Bitget suspended withdrawals after a hack estimated at $387.5 million on September 24, 2026. Attackers exploited a vulnerability in the exchange’s backend wallet infrastructure, allowing them to spoof transaction authorization data without stealing private keys. CEO Gracy Chen assured users that funds are safe, pointing to the User Protection Fund which holds over $464 million, enough to absorb the losses. User balances were not affected and trading as well as deposits continued without interruption. The attack has been linked to North Korean hacking groups based on IP behavior patterns and on-chain analysis, with cybersecurity firms Mandiant and SlowMist joining the investigation.
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