Crypto exchange Bitget pauses withdrawals after $350 million stolen in hack

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September 25, 2026 6:42 AM EDT

FILE PHOTO: Representation of cryptocurrencies is seen in this illustration created on September 10, 2025. REUTERS/Dado Ruvic/Illustration//File Photo

By Elizabeth Howcroft

PARIS, ‌Sept 25 (Reuters) - ​Crypto ​exchange Bitget has stopped allowing customer withdrawals following the theft of ‌crypto worth approximately $351.6 million in a hack, ⁠it said, adding all user funds were safe.

Bitget had ‌noticed "unauthorised transfers" from some ‌of its wallets on Thursday and it "temporarily suspended" customer withdrawals, Gracy Chen, CEO of ​the Seychelles-based company, said in a statement posted on X.

Chen said that all user ⁠funds were safe and that the loss was covered by Bitget's ​own funds.

"Withdrawals remain temporarily suspended as a security precaution, not because of any ​shortfall in funds," Chen ‌told Reuters in an emailed statement on Friday.

Bitget says it has ⁠more than 120 million users, making it one of the world's largest crypto exchanges.

Crypto exchanges have ⁠for years been subject to hacks and thefts. Last ​year, crypto exchange Bybit had $1.5 billion stolen in a hack, which the FBI attributed to North Korean hackers.

North ‌Korea routinely denies involvement in cyber hacking or crypto heists.

Authorities have ‌said criminals can quickly move stolen cryptocurrency ⁠across borders, without using the ‌mainstream financial system.

(Reporting ​by Elizabeth Howcroft in Paris; Editing by Tommy Reggiori Wilkes and Barbara ‌Lewis)


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