Bitget breach exposes $351.6 million, Gracy Chen says funds safe
Technology
Crypto exchange Bitget just got hit by a huge security breach, with $351.6 million exposed to a system breach.
CEO Gracy Chen quickly addressed users on X, saying cold wallets and user funds were safe and that Bitget maintains an over $464 million "user protection fund."
Still, withdrawals are temporarily paused while it reviews the situation, but you can keep making deposits and trading as usual.
Analysts spotted $183 million transfer, BGB bounced
Before Bitget made it official, blockchain analysts had already noticed some shady transfers: about $183 million moved from several wallets to one address.
This could end up being the biggest crypto hack of 2026 so far.
The news also shook up Bitget's BGB token price, which dropped sharply but managed to bounce back a bit later in the day.