Bitget Crypto Theft Reaches $387.5M as Stolen Assets Move
Key Facts
Bitget reported that the total amount of stolen cryptocurrency from its recent security breach has reached $387.5 million. Seeking Alpha reported that this updated figure follows further investigation into the wallet breach and the tracking of unauthorized transfers.
Stolen XRP tokens have begun moving through various digital wallets following the initial breach. The exchange is currently working to trace and recover the assets as the upward revision of the theft magnitude increases market concerns regarding platform security.
Latest Updates · 6
- Notable·
Update: Bitget confirmed that withdrawals remain paused, with plans to resume them gradually by chain and asset. The exchange stated that this restoration will follow the completion of security repairs to ensure the safety of future transactions.
- Major·
Update: Bitget clarified that the breach was caused by a third-party vulnerability, confirming that its private keys and cold wallets remain secure. The exchange also emphasized that all user losses are fully covered by its dedicated user protection fund.
- Notable·
Update: Bitget clarified that the unauthorized transfers occurred on September 25, 2026, before services were isolated and deposit operations were reopened. The exchange expects to release a detailed report regarding the security breach later this week.
- Notable·
Update: New movements of stolen assets valued at $351.6 million have been detected, with the funds being swapped from Ether (ETH) to Bitcoin (BTC). These transactions are being conducted via the THORChain cross-chain protocol as part of an apparent effort to liquidate the looted funds.
- Notable·
Update: Bitget CEO Gracy Chen has pressured THORChain to stop processing funds linked to the $387 million exchange hack. This move is part of the platform's efforts to freeze the movement of stolen assets and prevent them from being liquidated through decentralized protocols.
- Notable·
Update: Bitget confirmed that its protection fund fully covers the $387.5 million in losses resulting from the breach. The exchange has also established a phased timeline to restore withdrawals to ensure the security of remaining assets.