Bitget loses $352 million in hack, says customer funds are safe
The exchange says users are not affected. Its statement does not yet explain who absorbs the loss or how customer balances are covered.
Crypto exchange Bitget lost $352 million in a hack, CoinDesk reported on September 24, 2026. The exchange says its users' funds are safe.
Was bekannt ist
The loss stands at $352 million, according to the report. Bitget has confirmed the attack. Along with the confirmation came a promise to customers: their balances are not at risk.
The order of events matters. Independent observers who track blockchain transactions spotted the unusual movements out of the exchange's wallets first. Bitget's confirmation followed later.
The same day, CoinDesk reported a second incident. Crypto casino Duelbits went offline after attackers drained about $7 million from its hot wallet. Hot wallets stay connected to the internet so a platform can process deposits and withdrawals.
Einordnung
"Customer funds are safe" is a promise, not proof. It can mean several things. The drained wallets may have held the exchange's own money. Bitget may be covering the loss from its reserves. Or customer balances may have been held separately. The statement alone does not say which.
For users, the difference is practical. If an exchange covers a loss from its own money, the safety of customer balances depends on its financial strength. If only operating funds were hit, the damage stays with the company. The promise only carries weight once withdrawals run without limits and the exchange explains where the cover comes from.
The timeline also follows a familiar pattern for attacks on crypto platforms. Blockchain transactions are public, so outsiders often see funds leaving before a company responds. By the time the exchange speaks, its statement is no longer a warning. It is a reply to observations already circulating.
The Duelbits case is far smaller, but it points to the same weak spot: wallets that must stay online to keep a platform running. Nothing in the reporting links the two incidents.
Was offen ist
The available information does not say how the attackers gained access, which wallets and tokens were affected, or whether Bitget is covering the loss from its own reserves. It is also unclear whether any of the funds have been frozen or recovered, and whether authorities are investigating. Whether withdrawals on Bitget are running normally has not been confirmed either.
