- Bitget CEO Gracy Chen confirmed the financial losses resulting from a recent hack.
- A Seychelles-based cryptocurrency exchange is facing issues due to unusual movements on multiple networks, including Ethereum.
Hackers Compromise Critical Backend Systems at Cryptocurrency Exchange Bitget
What happened
Cryptocurrency exchange Bitget disclosed that approximately $351.6 million was lost after hackers gained unauthorized access to part of its wallet infrastructure. The exchange stated that its security systems detected unauthorized transfers from some of its hot wallets at 18:31 UTC on September 24, 2026. The CEO confirmed the loss was due to attackers compromising a critical backend system within the wallet infrastructure and using it to spoof transaction data.
From punchng.com
Why it matters
The loss occurred while the exchange was under investigation. Bitget stated that the breach was limited to the hot and warm wallet layers, while its cold wallets remained secure. The exchange assured users that the loss was covered by its User Protection Fund, which held over $464 million.
A Seychelles-based cryptocurrency exchange is facing issues due to unusual movements on multiple networks, including Ethereum.
From punchng.com
Who's involved
- EthereumPublic blockchain platform whose assets were involved in the compromised trading operations.
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The entities involved
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Ethereum
public blockchain platform with programmable transaction functionality