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anchored·3wwubJ…RvbDSummary
Bitget is a centralized cryptocurrency exchange founded in 2018 that offers spot and derivatives trading, a proof-of-reserves program, and a self-custody wallet (Bitget Wallet, formerly BitKeep). On September 24, 2026, Bitget confirmed a hack of approximately $351.6 million from its hot and warm wallets — one of the largest exchange breaches of the year — and froze withdrawals pending investigation. The exchange has a long history of monthly proof-of-reserves disclosures but also carries a record of regulatory restrictions in multiple jurisdictions (France, Singapore, Hong Kong, the Philippines), disputed token-listing practices, and recurring user complaints about frozen accounts and customer support.
Connected Entities
6 entities · 60 linked investigations- Bitget Exchange (Shawn Liu)→mentioned with→Bitget(80%)
- Bitget Exchange (Shawn Liu)→mentioned with→Bitcoin(65%)
- Bitget Exchange (Shawn Liu)→mentioned with→ZachXBT(70%)
- ZachXBT→mentioned with→Bitcoin(65%)
- Shawn Liu→mentioned with→ZachXBT(70%)
- Shawn Liu→mentioned with→Bitget(80%)
- Bitget Exchange (Shawn Liu)→mentioned with→Shawn Liu(80%)
- Bitget→mentioned with→Philippines SEC — Multi-Exchange Unlicensed Operations Enforcement(80%)
- Bitget→mentioned with→Bitget Exchange (Shawn Liu)(80%)
- Bitget→mentioned with→Shawn Liu(80%)
- + 4 more
Community submissions
“Confirms a ~$351.6M hot-wallet hack on Sept 24, 2026, contradicting the existing page's 'no direct external hack' claim; withdrawals were paused pending investigation.”
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“CEO confirms $351.6M hot wallet breach on September 24 2026, withdrawals suspended — material new incident against existing bitget slug last updated August 29”
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“Bitcoin News May 2026: ZachXBT names Bitget as enabler of market maker supply manipulation across RAVE, RIVER, SIREN, LAB tokens”
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“ZachXBT accused Bitget of knowingly enabling market makers to run supply-control manipulation schemes against retail traders, naming RAVE, RIVER, SIREN, and LAB tokens as specific cases. The LAB case involved 100M tokens (~$482M) withdrawn from Bitget's hot wallet to 10 fresh addresses within 12 hours. ZachXBT named Shawn Liu (Bitget's chairman, operating behind CEO Gracy Chen) as the key enabler. Bitget launched a performative 'Anti-Scam Month' while providing no follow-up to affected communities.”
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- ZachXBT's May 2026 investigation into the LAB token named Bitget as a structural enabler of coordina
“ZachXBT's May 2026 investigation into the LAB token named Bitget as a structural enabler of coordinated pump-and-dump schemes, alleging that the exchange's real operator Shawn Liu (distinct from public CEO Gracy Chen) facilitates a pattern affecting at least four tokens: LAB, RAVE, RIVER, and SIREN. ZachXBT labeled Bitget part of a 'Chinese CEX cartel' and threatened escalating action including delist campaigns. This represents a new and specific exchange-level manipulation allegation beyond what was previously documented.”
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“ZachXBT May 2026 accusation naming Bitget chairman Shawn Liu as enabler of supply-control manipulation schemes across RAVE, RIVER, SIREN, and LAB tokens — new systemic allegations materially expanding the risk profile of the existing Bitget page.”
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“ZachXBT's May 2026 investigation naming Bitget's real leadership and documenting a multi-token coordinated manipulation network facilitated through the exchange across at least five token projects”
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“The Block report on ZachXBT's investigation alleging Bitget facilitated LAB token supply-control manipulation scheme, part of a broader pattern across RAVE, RIVER, SIREN, and LAB tokens”
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Timeline(17 events)
December 2021
Singapore's MAS suspends the exemption allowing Bitget to serve retail/institutional clients following the disputed listing of the BTS fan-themed 'Army Coin' token.
CointelegraphOctober 2022
BitKeep (later acquired by Bitget) suffers a swap-feature exploit resulting in roughly $1 million in losses.
WikipediaDecember 2022
Attackers distribute a trojanized, counterfeit BitKeep app that steals user seed phrases; PeckShield estimates losses at approximately $8 million.
The Block / CointelegraphMarch 2023
Bitget acquires BitKeep following a $30 million fundraise and rebrands it as Bitget Wallet.
WikipediaNovember 2023
Bitget becomes embroiled in a public dispute with Floki Inu over the TokenFi (TOKEN) listing, with allegations of an unauthorized fake-token listing and unsupported trading volume.
CoinDeskNovember 2023
France's AMF adds Bitget to its blacklist of unauthorized crypto-asset trading platforms.
AMF (France)2023
BitgetX withdraws from Hong Kong rather than pursue a local virtual-asset trading license.
Wikipedia3 April 2024
AMF reiterates its blacklist warning on Bitget, urging French investors to withdraw assets from the platform.
AMF (France)2024
Bitget ceases UK operations amid FCA retail crypto-derivatives restrictions, later relaunching after obtaining financial-promotions approval via Archax.
Cointelegraph1 August 2025
Bitget's website is blocked in the Philippines for operating without required SEC/VASP registration.
Wikipedia (List of websites blocked in the Philippines)April 2026
CEO Gracy Chen publicly calls rival exchange Hyperliquid a 'fake DEX,' triggering backlash on social media.
Yahoo Finance / CryptoNewsMay 2026
Bitget announces a market integrity and token accountability framework aimed at strengthening listing review after multiple market-manipulation controversies.
InvezzJune 2026
Bitget's Vienna-based EU entity announces it has filed a MiCA/CASP authorization application with Austria's Financial Market Authority.
CASP TrackerJuly 2026
MiCA's transitional period ends; Bitget restricts access for users in Austria, France and Germany pending Austrian regulatory authorization.
HyperdashSeptember 2026
Bitget publishes its 46th monthly Proof of Reserves report, covering 19 assets with a reported 135% reserve ratio.
Bitget Support Center24 September 2026
Bitget detects unauthorized transfers from hot and warm wallets; the breach is later confirmed at approximately $351.6 million, one of the largest exchange hacks of 2026. Withdrawals are suspended pending investigation.
CoinDesk / Cointelegraph / CryptoSlateDecision Log
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- hash: 3ikE2DRnSQGZuyTH8qtZXmQzPQoNaXAS2jzkaJDKBdFm
This investigation is cryptographically anchored to the Solana blockchain (7 events). 25 of 28 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/4/2026, 2:54:24 AM
last updated: 9/25/2026, 1:18:21 AM
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