Bitget Loses $351.6M in a Hack Where the Private Keys Never Left — the Third-Party Security Layer Did

Bitget private keys never leaked, cold wallets were never touched. The hackers did not break who holds the keys, they broke a third-party security system the exchange trusted. $351.6 million moved not because a key was stolen, but because a forged transfer was mistaken for a legitimate one.

Chloe Brennan · October 01, 2026

At 18:31 UTC on September 24, Bitget exchange security systems flagged an abnormal internal fund movement, which was quickly confirmed as a breach of the exchange hot and warm wallets, with roughly $351.6 million in assets moved out, the largest exchange hack of 2026 so far and one that ranks among the ten largest crypto thefts on record. Bitget CEO Gracy Chen responded quickly with a livestream on X, stating that user funds are safe, your account balances are accurate, and your assets are...

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Block

A block is the basic unit of a blockchain — think of it as one page in the ledger. Each block packages a batch of transaction records, plus a timestamp and a fingerprint pointing to the previous block (the previous block's hash). Blocks link in order, head-to-tail by hash, forming the blockchain — which is where the name comes from.

A block is the most basic building unit of a blockchain — you can picture it as one page in a public ledger. Each block mainly holds three things:...

新手

Consensus Mechanism

The set of rules by which all nodes in a blockchain agree, without any central administrator, on what the next <a href="/en/glossary/blockchain-fundamentals/block/">Block</a> looks like and which transactions are valid. It's the core that lets a decentralized network operate securely and resist fraud; the two most common are <a href="/en/glossary/blockchain-fundamentals/proof-of-work/">Proof of Work</a> (PoW) and <a href="/en/glossary/blockchain-fundamentals/proof-of-stake/">Proof of Stake (PoS)</a>.

A <a href="/en/glossary/blockchain-fundamentals/consensus-mechanism/">Consensus Mechanism</a> is the set of rules a blockchain uses to get a group...

Intermediate

EIP (Ethereum Improvement Proposal)

**Are EIP and ERC the same thing? What exactly are ERC-20 and ERC-721?** EIP is the broad category; ERC is a sub-category of EIP specifically for...

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