On September 25, Bitget's Greater China head, Xie Jiayin, announced that at 2:31 AM Beijing time on September 25, the Bitget security system detected abnormal transfers from certain hot wallets, prompting the security team to initiate an emergency response mechanism. The platform's preliminary assessment indicates that the incident involves approximately $351.6 million, with the specific cause still under investigation. Bitget stated that its cold wallets and the vast majority of platform assets remain intact and unaffected by this incident, ensuring that user account balances are accurate and assets are protected. The total amount of loss is fully covered by Bitget's user protection fund, which currently exceeds $464 million. Minutes after the incident, Bitget established an emergency response team, marked and reported the relevant abnormal transfer addresses, and notified law enforcement and on-chain security agencies to intervene in the investigation. For security reasons, the platform has temporarily suspended the withdrawal function, which will be restored in an orderly manner after the security review is completed; deposit and trading functions continue to operate normally. Bitget stated that it will provide updates on the incident hourly and plans to release a complete incident report within 24 hours, including root cause analysis and corrective measures. The platform will not speculate on the specific method of attack until the investigation concludes. Previous on-chain monitoring indicated that approximately $180 million to $183 million in assets were transferred from multiple Bitget-tagged addresses, involving assets such as ETH, BNB, AVAX, USDT0, USDC, USDT, and XAUT, with funds consolidated into a primary address before being dispersed to at least six addresses. Notably, a newly created address utilized 19.67 million USDT0 from Bitget's hot wallet to purchase 7,111 ETH through UniswapX and 1inch Fusion within about six minutes, with some transaction prices approximately 5% higher than the spot market. Bitget CEO Gracy Chen has held a public live stream regarding this matter, but as of now, the official has not released a written version of the new investigation conclusions.