Bitget has temporarily paused withdrawals following a security incident involving approximately US$351.6 million in assets, based on the company’s assessment.

The cryptocurrency exchange said its systems detected unauthorised transfers from a limited number of hot wallets at 6.31pm UTC on 24 September 2026.

Its security team activated emergency procedures right away and began a full investigation.

According to the exchange, its cold wallets and the vast majority of platform assets remain secure.

This incident falls within the coverage of Bitget’s User Protection Fund, which currently holds more than US$464 million, and the company said user funds remain protected.

Customer account balances are accurate, while deposits and trading continue as usual.

The pause on withdrawals is a precautionary step that allows the team to complete a full security review.

So far, the company has identified and flagged the transfer addresses involved.

It is working with law enforcement agencies and on-chain security partners as the investigation continues.

The exchange has not commented on the cause while the review is ongoing.

“We are working around the clock to restore withdrawal services as soon as it is safe to do so,” Bitget said, adding that further updates will be shared through its official channels.

Featured image: Edited by Fintech News Switzerland, based on image by Magnific.