Bitget Revises Hack Losses Upward to $388 Million
Key Facts
Bitget revised its total digital asset loss estimate from the recent security breach upward to approximately $388 million. Blockonomi reported that the new figure represents a significant increase from the initial $352 million assessment announced just 24 hours earlier.
The exchange stated that the revised estimate emerged from comprehensive blockchain forensic analysis that uncovered additional compromised assets on the Zcash and TRON networks. Bitget confirmed it will utilize its Protection Fund, valued at over $464 million, to compensate for the losses incurred during the incident.
Latest Updates · 5
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Update: GoPlus reported that the $387.5 million incident resulted from compromised wallet back-end systems and falsified transaction data. The firm clarified that the breach targeted the transaction-signing trust chain, confirming the incident was not caused by a private-key leak as previously suspected.
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Update: Bitget CEO Gracy Chen publicly requested the THORChain protocol to block and freeze the stolen funds. Chen argued that decentralization should not serve as a shield for facilitating the movement of known stolen assets as the exchange seeks to limit the hackers' ability to liquidate the currency.
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Update: Bitget formally requested THORChain to freeze addresses linked to the exploit as part of its recovery efforts. Meanwhile, stablecoin issuers Circle and Tether have already halted $318,000 in movements associated with the suspect addresses.
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Update: Bitget CEO Gracy Chen requested THORChain to filter and reject all transactions originating from addresses linked to the exchange's September 24, 2026, exploit. This move marks an active attempt by the exchange to track stolen assets and prevent their liquidation through decentralized trading protocols.
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Update: New reports have linked the Bitget security breach to North Korean hacking groups. This development adds a geopolitical dimension to the incident that targeted the exchange's digital assets in September 2026.