Bitget Loses $351.6M in the Largest Crypto Hack of 2026

Bitget confirmed that attackers drained ~$351.6M from its hot and warm wallets on September 24 in 19 transfers across Ethereum, XRP Ledger, Avalanche, BNB Chain and Arbitrum. The stolen assets include ETH, XRP, USDT, USDC, AVAX, and BNB, and $170M+ has already been swapped into ETH.

According to CEO Gracy Chen, no private keys were stolen. The attacker broke into a backend system in the wallet infrastructure, faked transaction data and got Bitget's own authorization process to approve the transfers.

It's the same pattern as Bybit last year: attackers go after the signing process instead of the keys. Bitget says it suspects North Korean hackers. For users: the $464M+ User Protection Fund covers the full loss, and Bitget has $1B+ in its own capital on top.

🔗 x.com/GracyBitget/status/2103235655879074084

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