Bitget Exchange Suffers $388 Million Security Breach Resuming Withdrawals After Investigation
What happened
Bitget suffered a security breach on September 24, 2026, resulting in unauthorized transfers totaling approximately $388 million from its hot and warm wallets.
The Context
- State-sponsored threats: The breach aligns with ongoing patterns of cyberattacks linked to North Korean hacking groups, which have previously stolen billions in cryptocurrency.
- User Protection Fund: Bitget had a User Protection Fund exceeding $464 million, designed to cover losses from such incidents, ensuring no impact on cold storage or customer balances.
- Phased withdrawal resumption: Withdrawals resumed in phases starting September 28, 2026, with Bitcoin, Ethereum, and USDT, concluding by October 2, 2026.
The Number
— This revised estimated loss underscores the significant financial risks associated with centralized exchanges and the importance of robust security measures.
Takeaway
As the investigation continues, expect heightened scrutiny on security protocols across cryptocurrency exchanges to prevent future breaches.
Real-time updates, analysis, and reports on the blockchain and cryptocurrency sectors.
"Crypto News delivers real-time updates, analysis, and reports on the blockchain and cryptocurrency sectors."
— A47 Editor
NEAR price outlook: Can $4.69 support absorb the Intents selloff?
NEAR's price fell below $5 on October 1, 2026, following a $3.8 million exploit involving NEAR Intents, which has raised concerns among investors as the token trades around $4.94 after a recent rally. The exploit was attributed to a bug affecting dep...
Covers blockchain, cryptocurrency news, project analysis, and market insights.
"Cointelegraph is a leading crypto-focused media outlet known for timely news, analysis, and educational content related to blockchain and digital assets."
— A47 Editor
NEAR Intents suffers $3.8M exploit after assistance with Bitget breach
NEAR Intents has reported a significant exploit resulting in a loss of $3.8 million, which is linked to a bug affecting deposits and withdrawals. This incident follows a major security breach at Bitget, where unauthorized transfers totaled approximat...
Covers blockchain, cryptocurrency news, project analysis, and market insights.
"CoinDesk is a well-established cryptocurrency and blockchain news provider, offering comprehensive insights, market data, and industry research."
— A47 Editor
NEAR Intents hit by $3.8 million exploit as crypto's rough year of hacks continues
NEAR Intents has suffered a significant exploit resulting in a loss of $3.8 million, affecting deposits and withdrawals across multiple networks. The popular cross-chain trading system announced plans to reimburse affected users following the inciden...
Research, news, and analysis on blockchain startups, DeFi, and regulations.
"Crypto Briefing provides research, news, and analysis on blockchain startups, DeFi, and crypto regulations with investor-focused coverage."
— A47 Editor
Bitget reopens withdrawals after major security breach drains roughly $388 million
Bitget has reopened withdrawals following a significant security breach that resulted in unauthorized transfers totaling approximately $388 million. The breach, which affected both hot and warm wallets, prompted the exchange to temporarily suspend wi...
Covers blockchain, cryptocurrency news, project analysis, and market insights.
"CoinDesk is a well-established cryptocurrency and blockchain news provider, offering comprehensive insights, market data, and industry research."
— A47 Editor
Near Intents blocks $50 million in Bitget hacker swaps, here's what happened
NEAR Intents has successfully blocked over $50 million in attempted transfers linked to hackers involved in a significant breach at Bitget, which has seen unauthorized transfers totaling approximately $388 million. This action underscores NEAR Intent...
Real-time updates, analysis, and reports on the blockchain and cryptocurrency sectors.
"Crypto News delivers real-time updates, analysis, and reports on the blockchain and cryptocurrency sectors."
— A47 Editor
NEAR Intents says it stopped $50M Bitget laundering bid
NEAR Intents has successfully blocked over $50 million in transfers linked to hackers involved in a significant breach at Bitget, which resulted in the theft of approximately $388 million. This decisive action underscores NEAR Intents' proactive stan...