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      Bitget Reports $351.6 Million Hack, Freezes Withdrawals Amid Investigation

      Bitget, a cryptocurrency exchange, has confirmed that approximately $351.6 million in digital assets were stolen from its online wallets on September 24, 2026. This incident is being described as potentially the largest crypto hack of the year. Following the breach, the exchange has suspended all customer withdrawals while it conducts a security review, although trading and deposits remain operational. Chief Executive Gracy Chen stated that the loss will be covered by the exchange's User Protection Fund, which reportedly holds over $464 million.

      The unauthorized transfers were detected at 18:31 UTC, prompting immediate emergency procedures. Chen clarified that the breach was limited to the exchange's hot and warm wallet layers, while its cold wallets, which are kept offline for security, were not affected. The method of the attack has not been disclosed, and Bitget has promised to provide hourly updates and a comprehensive incident report within 24 hours. Law enforcement and blockchain security firms have been notified of the incident.

      Initial estimates of the stolen amount varied, with independent researchers suggesting losses between $174 million and $183 million before Bitget confirmed the higher figure. The hack has raised concerns about the security of centralized exchanges, especially as the longer withdrawals remain frozen, the more likely it is that doubts will spread to other platforms. The incident has contributed to a significant rise in reported crypto hack losses for September, which now exceed $684 million, making it the costliest month of 2026 so far.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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