- Bitget says the unauthorized transfers impacted approximately $351.6 million held in parts of its hot and warm wallet infrastructure.
- The exchange says its cold wallets were not affected and that a $464 million user protection fund covered the loss.
- Withdrawals have been temporarily suspended while Bitget investigates the breach with law enforcement and security companies.
**ID:** N25-10
**Website:** BTC News
**Status:** Ready
** Author: ** NewsBTC editorial team
**Focus on keyword:** Bitget
**Image keyword:** Security
**Category:** Technology
**Tags:** Bitget, security, hacking, exchange, wallets
** Primary source: ** https://www.bitget.com/support/articles/
Bitget says cold wallets and customer balances remain secure
According to Bitget’s security notice, the incident was contained within a portion of the wallet’s hot and warm layers.
Cold wallets are untouched.
The exchange says customer balances remain accurate and that the entire estimated loss falls within the user protection fund, which currently holds more than $464 million.
Withdrawals have been temporarily suspended while the security review continues.
Deposits and trading remain available.
Bitget says it identified the abnormal transfer addresses, flagged them, and contacted law enforcement and onchain security companies.
The company promised to provide a full report on the incident, including a root cause analysis, within 24 hours.
Until this report arrives, Bitget is deliberately not speculating publicly about how the attackers arrived.
The size of the sandbox is about to be tested
Exchange protection funds look reassuring when markets are calm.
Great exploitation is when it becomes meaningful.
Bitget’s reported fund of more than $464 million is larger than the current estimate of $351.6 million, meaning the company says it can absorb the incident without passing on losses to customers.
This does not eliminate the operational problem.
Pausing withdrawals means users cannot temporarily move assets off the platform, and the final loss figure or scope of the attack may change as the investigation develops.
The breach also reinforces the distinction between reciprocal and self-custody.
The assets in an exchange’s hot wallet depend on the exchange’s security systems, operational controls, and balance sheet.
Bitget says its separate Bitget Wallet infrastructure was not involved.
For now, the main questions are straightforward: how did the attacker gain access, whether all affected wallets have been contained, and when withdrawals can safely resume.
The $351.6 million loss is significant enough to make the promised root cause report of significance beyond Bitget users.
*This article was written by the News Desk and edited by Samuel Rae (https://www.newsbtc.com/author/rae-samuel/).*