Global company in Brazil experiences a loss of R$ 1.8 billion due to a cyber-attack.

Bitget, the sixth largest cryptocurrency exchange globally, experienced a hacker attack on Thursday night, resulting in approximately $351.6 million (R$ 1.8 billion) in cryptocurrencies being impacted by unauthorized transfers.

Gracy Chen, the CEO of the company, announced on social media that the full amount is protected by the platform’s user protection fund, which has accumulated more than $464 million since 2022.

After the incident, the company activated its emergency response team, identified and reported addresses linked to unusual transfers, and informed blockchain security experts and authorities.

Your account balances are correct, and your assets are safe. Deposits and trades are functioning normally, but withdrawals are on hold until the security check is finished, according to Chen.

Sign up for the Morning Invest News Crypto newsletter if you want to learn more about cryptocurrency.

What occurred?

Hackers breached an internal system used to oversee the broker’s wallets, manipulated transaction data, and triggered the authorization process to transfer funds, as reported by Bitget.

The exchange confirmed that the private keys of the wallets, which enable direct authorization of cryptocurrencies, remained secure. This indicates that the attackers did not obtain the crucial “secret passwords” necessary for direct control of the wallets. Bitget assured that the breach was controlled, preventing any new unauthorized transfers.

Safety

Cryptocurrency platforms suffered losses of approximately $3.63 billion (around R$ 18.4 billion) due to attacks from January 2025 to July 2026, as reported by CoinGecko. The survey identified 245 incidents during this period, with the primary attack methods being infrastructure failures, smart contract exploits, and private key compromises.

Solitary hackers have been replaced by organized cartels and state-sponsored groups, including virtual criminals from North Korea, according to the research. The CEO of Bitget expressed concerns about the potential involvement of North Korean hackers in the attack during a live broadcast on X.

Also read

• Why are numerous cryptocurrency exchanges shutting down in Brazil?
• What are the dangers faced by individuals who invest in cryptocurrencies?

View the prices of the main cryptocurrencies at 8:15

Bitcoin (BTC) has increased by 1.99% to US$ 85,222.45.

Ethereum is up by 3.40% at a price of US$ 2,738.11.

BNB (BNB) increased by 1.68% to reach US$ 782.95.

XRP (XRP) has increased by 7.25% to reach US$1.57.

Solana’s price increased by 7.30% to reach US$121.61.

Other notable aspects of the cryptocurrency market

The Central Bank’s request to monitor transfers of $10,000 or more to or from self-custodied wallets has been seen by the Brazilian Association of Crypto-economy as a natural progression in regulating crypto companies.

Tokenization is progressing in Brazil, with a focus on private credit assets, particularly corporate debts, accounting for a significant portion of the tokenized assets in the country.

The X platform has formed partnerships with exchanges and brokers to allow cryptocurrency trading directly from the social network feed. Participants include Coinbase, Gemini, Kraken, Moomoo, and Interactive Brokers, among others. Users can search for a specific cryptocurrency symbol, view its chart, and easily access the trading platform with a simple click.