{
  "id": 11208386,
  "title": "Bitget’s $388M hack pushes Q3 crypto security losses past $1B",
  "url": "https://urgent.news/2026/10/01/bitgets-388m-hack-pushes-q3-crypto-security-losses-past-1b",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T13:35:47.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/bitget-hack-q3-industry-losses-1-26-billion"
  },
  "original_language": "en",
  "account": "In the third quarter of 2026, total crypto security losses surpassed $1.26 billion, marking a significant increase from the previous quarter. The surge in losses, up 53.9% from $819.4 million in Q2, was primarily driven by the $387.5 million hack of crypto exchange Bitget. This incident accounted for approximately 31% of the total losses, making it the most substantial security incident of the quarter according to blockchain security firm CertiK.\n\nSeptember alone contributed to a staggering $769 million in losses, representing the highest single-month figure in Q3. Of the 247 recorded security incidents, nearly 96% were attributed to exploits, with Bitget's hack being the most costly, followed by the Liquid Network's $319 million exploit, Tectonic's $120 million, and the $112.7 million Coldcard theft.\n\nCertik's data indicated that about $273 million of the September losses were frozen or returned, leaving adjusted losses of $495.3 million. The exchange itself responded to the hack by suspending withdrawals and detecting unauthorized transfers from some of its hot wallets. Bitget attributed the breach to a vulnerability in a third-party security product, which allowed attackers to obtain internal credentials and manipulate withdrawal commands. The incident was traced back to a zero-day exploit identified on August 31.",
  "summary": "Crypto security losses reached $1.26 billion in Q3 across 247 incidents, with September alone accounting for roughly $769 million.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}