$387.5 million. That's the figure Bitget confirmed today after detecting unauthorized transfers from its hot wallets, in one of the biggest crypto hacks of 2026. The alert went off at 18:31 UTC, and within minutes the team activated emergency protocols.

The good news: cold wallets and the vast majority of platform funds are safe, and Bitget says its User Protection Fund (+$464M) fully covers the loss. As a precaution, withdrawals were suspended while a security review is completed, and authorities have already been brought in. It's still unclear how the attackers got in.

This incident makes September the most expensive month of the year for the crypto sector in terms of hacks. And it leaves an open question for everyone operating in this space: how much of our assets should really sit on an exchange, and how much should we hold ourselves?