Bitget’s $388M Hack Drives Q3 Crypto Security Losses Beyond $1 Billion
Crypto security incident losses surged to $1.26 billion in Q3 2026, with the largest breach being the $387.5 million hack of crypto exchange Bitget. According to blockchain security firm CertiK, the damage rose over 50% from Q2, while the number of incidents increased by 13%.
Increase in Losses and Major Incidents
According to CertiK, crypto security losses reached $1.26 billion in Q3 2026, marking a 53.9% increase from $819.4 million in Q2. The number of security incidents also rose roughly 13%, from 219 to 247.
The Bitget hack accounted for about 31% of Q3 losses, representing the largest recorded incident of the quarter under CertiK’s methodology. The next largest was the Liquid Network exploit on September 6, causing $319 million in damage, followed by the Tectonic hack at $120 million and the Coldcard theft at $112.7 million.
Details on Bitget Hack and September's Statistics
On September 24, Bitget detected unauthorized transfers from some of its hot wallets and promptly suspended withdrawals. The company reported that attackers exploited a vulnerability in a third-party security product to obtain internal credentials and forge withdrawal commands.
In September alone, there were 99 incidents resulting in approximately $769 million in losses, of which about $273 million was frozen or recovered, leaving adjusted losses of $495.3 million. Out of 58 exploits, $734 million accounted for nearly 96% of the month’s total losses.
Why it matters
This news highlights the magnitude and rising risks of security breaches in the crypto industry, with losses surpassing $1 billion in a single quarter. The Bitget hack, the quarter’s largest incident, illustrates vulnerabilities even in major platforms and the critical role third-party components play in security. Such data are crucial for the industry and users, emphasizing the need to strengthen protective measures and scrutiny toward potential vulnerabilities.
Prepared from the source material with AI-assisted editing and checked against the supplied facts.
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