Bitget confirms $351.6 million in wallet transfers

• Bitget confirmed unauthorised transfers affecting about $351.6 million from some hot wallets.
• The exchange temporarily suspended withdrawals while deposits and trading continued.
• Bitget said its User Protection Fund held more than $464 million.

Bitget has confirmed unauthorised transfers affecting approximately $351.6 million from some hot wallets.

The exchange detected the transfers at 18:31 UTC on September 24 and activated emergency response procedures.

“User funds are safe,” Bitget said in its security notice.

Bitget said the incident affected part of its hot and warm wallet layers, while cold wallets remained secure.

Withdrawals were temporarily suspended as Bitget reviewed the incident and investigated the affected transfers.

The exchange flagged abnormal transfer addresses and notified law enforcement and onchain security firms.

Bitget said deposits and trading remained operational, while its User Protection Fund held more than $464 million.

Following the update, Bitget Token (BGB) was trading down 6.3% at $1.92.