Bitget Suffers $351.6 Million Security Breach, Largest Crypto Hack of 2026

Bitget reported a security breach resulting in the theft of approximately $351.6 million in digital assets from its hot and warm wallet infrastructure. CEO Gracy Chen stated that cold wallets and customer funds remain secure, with the exchange's $464 million User Protection Fund available to cover the losses. The breach involved a compromise of a backend system that spoofed transaction data to trigger unauthorized transfers, rather than a private key leak. Withdrawals remain suspended pending a security review, and the exchange is coordinating with law enforcement and security firms.