More than $170 million in crypto moves from Bitget wallets to unidentified address

The exchange has not publicly disclosed if this incident stems from a security breach.

By Kyle Baird • Edited by Jason Shubnell
Markets•September 24, 2026, 5:20PM EDT
UPDATED: September 24, 2026, 8:33PM EDT
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More than $170 million in crypto moves from Bitget wallets to unidentified address

Quick Take

  • The receiving address has made multiple onchain swaps since receiving the funds.
  • Update: Bitget has temporarily suspended withdrawals while it investigates the incident and will publish a full report within 24 hours.
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More than $170 million in crypto appears to have been moved from wallets labeled as belonging to crypto exchange Bitget to a single fresh address over roughly the past hour, according to onchain data examined by The Block.

The transfers came from several Bitget-labeled hot and cold wallets and include ether, USDT, USDC, AVAX and BNB. The receiving address has begun swapping the assets onchain.

The activity has prompted speculation of a potential security breach, though it remains unclear whether the wallets were compromised or whether the transfers were initiated by Bitget as part of an internal operation.

Some users have also reported problems with withdrawals, according to social media posts and other online reports.

At 5:30 p.m. ET, Bitget CEO Gracy Chen noted the incident in a post on X.

Bitget said Thursday that its security systems detected unauthorized transfers from some hot wallets, with approximately $351.6 million in funds affected in total. The exchange said its cold wallets remain secure and that the loss is fully covered by its User Protection Fund, which holds more than $464 million.

Bitget has temporarily suspended withdrawals while it investigates the incident, with law enforcement and onchain security firms engaged, and said it will publish a full report within 24 hours.

Transfers of crypto from Bitget hot and cold wallets. Source: Arkham Intelligence.

"Bitget has navigated multiple market cycles," Chen wrote in the post. "We will not run from this. Every dollar and every decision will be accounted for, transparently and in full. Updates will be posted here and across all official Bitget channels as they become available."

Editor's note: This story was updated with additional information following Bitget's security notice.