Bitget Hot Wallet Hacked, Impacting Around $350M; CEO Assures Cold Wallet and User Funds Are Safe Bitget CEO Gracy Chen confirmed in a post that on September 24 at 18:31 UTC, the platform's security system detected unauthorized transfers from some hot wallets, with an initial assessment estimating the affected funds at approximately $351.6 million. She stated that Bitget uses a three-tier wallet architecture, with the cold wallet remaining completely secure. This breach is limited to the hot and warm wallet layers. User funds are safe, and any losses will be fully covered by the Bitget User Protection Fund, which currently exceeds $464 million. Bitget has initiated an emergency response, flagged and reported the abnormal transfer addresses, paused withdrawals pending a security review, and notified law enforcement and blockchain security firms to assist in the investigation. Deposits and trading remain operational, and withdrawals will resume once the security checks are complete. The company promises to provide updates on an hourly basis and will release a full incident report within 24 hours.