Bitget says unauthorized transfers affected about $351.6 million held across parts of its hot and warm wallet infrastructure. The exchange says its cold wallets were not affected, and its User Protection Fund of more than $464 million covers the loss. Withdrawals have been temporarily suspended while Bitget investigates the breach with law enforcement and security firms. ID: N25-10 Site: NewsBTC Status: READY Author: NewsBTC Editorial Team Focus Keyword: Bitget Image Keyword: Security Category: Technology Tags: Bitget, Security, Hack, Exchange, Wallets Primary Source: https://www.bitget.com/support/articles/ Bitget Says Cold Wallets And Customer Balances Remain Secure According to Bitget’s security notice, the incident was limited to part of its hot and warm wallet layers. Cold wallets were not compromised. The exchange says customer balances remain accurate and that the entire estimated loss falls within its User Protection Fund, which currently holds more than $464 million. Withdrawals have been temporarily suspended while the security review continues. Deposits and trading remain available. Bitget says it has identified and flagged abnormal transfer addresses and has contacted law enforcement and onchain security firms. The company has promised a full incident report, including root-cause analysis, within 24 hours. Until that report arrives, Bitget is deliberately not speculating publicly about how the attackers gained access. The Size Of The Protection Fund Is About To Be Tested Exchange protection funds sound reassuring when markets are calm. A major exploit is when they become meaningful. Bitget’s stated $464 million-plus fund is larger than the current $351.6 million estimate, which means the company says it can absorb the incident without passing losses to customers. That does not remove the operational problem. Withdrawals being paused means users temporarily cannot move assets off the platform, and the final loss figure or attack scope could change as the investigation develops. The breach also reinforces the distinction between exchange custody and self-custody. Assets held in an exchange hot wallet depend on the exchange’s security systems, operational controls and balance sheet. Bitget says its separate self-custodial Bitget Wallet infrastructure was not involved. For now, the key questions are straightforward: how the attacker gained access, whether all affected wallets have been contained and when withdrawals can safely resume. A $351.6 million loss is large enough that the promised root-cause report will matter far beyond Bitget’s own users. This article was written by the News Desk and edited by [Samuel Rae](https://www.newsbtc.com/author/rae-samuel/).
Frequently Asked Questions
FAQs Bitgets 3516 Million Hot Wallet Breach
Beginner Questions
What happened to Bitget
Bitget confirmed that hackers breached its hot wallet and stole about 3516 million in crypto The exchange has paused withdrawals while it investigates
What is a hot wallet
A hot wallet is a crypto wallet connected to the internet Its used for daytoday transactions which makes it fast but more vulnerable to hacks than offline cold wallets
How much money was stolen
Around 3516 million worth of cryptocurrency according to Bitgets own confirmation
Is my money on Bitget safe
Bitget says only the hot wallet was affected Most user funds are typically held in cold storage which wasnt breached That said if you have funds on Bitget monitor official announcements closely
Can I withdraw my crypto from Bitget right now
No Bitget has paused withdrawals Youll need to wait until the exchange restores the service
Will I get my money back
Bitget hasnt confirmed full reimbursement details yet Exchanges often use reserve funds or insurance to cover user losses but check Bitgets official statements for specifics
Who hacked Bitget
Bitget hasnt publicly named the attackers Investigations are ongoing and attribution usually takes time
Did Bitgets own team steal the money
Theres no evidence of that Bitget has described it as an external breach
Intermediate Questions
How did the hackers get in
Bitget hasnt released full technical details Common attack vectors include compromised private keys phishing or exploiting vulnerabilities in wallet infrastructure
Why did Bitget pause withdrawals
To stop attackers from moving more funds and to let the security team assess the damage secure remaining assets and patch the vulnerability
Whats the difference between a hot wallet and cold storage
Hot wallets are online and convenient for frequent transactions Cold storage is offline and much harder to hack so exchanges use it for most customer funds
Does this affect Bitgets other services like futures trading
Bitget paused withdrawals but trading may still be active Check Bitgets status page for the latest on which services are running
How does this compare to other exchange hacks
Its one of the larger exchange breaches in recent years though smaller than Mt