Bitget Suffers Year’s Largest Crypto Hack as Losses Top $387 Million

Cryptocurrency exchange Bitget disclosed on Friday (Sept. 25) that it suffered its largest hack of the year, losing approximately $387.5 million in assets in a cyber attack announced on Thursday (Sept. 24). Initially, the company estimated the stolen assets to be around $351.6 million in a post on X, stating that the revised figure included additional transfers involving Zcash and TRON not initially accounted for.

The incident remains contained, with no further unauthorized transfers possible. Bitget's security team swiftly identified unauthorized transfers within specific hot wallets, activated emergency response procedures, and initiated a comprehensive security review. The company suspended withdrawals while its teams conducted the review and worked towards restoring withdrawal services.

Bitget assured users that their funds remain protected, as the incident is covered by the User Protection Fund, which stands at over $464 million. Customer account balances were confirmed accurate, and trading operations continued as usual. Bitget announced that it would release a withdrawal plan on Saturday (Sept. 26) at 4 a.m. UTC.

The investigation is ongoing, and the reported figures may change as more transactions are classified and traced. The company suspects a North Korean hacking group may be behind the breach, as IP addresses linked to VPN services previously used by the group were found involved in the attack. The pattern of the attack matched earlier incidents attributed to North Korea, according to CEO Gracy Chen's live stream on X. CNBC reported on Friday that the Bitget incident is the largest crypto hack this year, with a total of $1.73 billion stolen across 333 incidents targeting crypto groups in 2026, based on data from TRM Labs.