Bitget Withdrawals, 24 September 2026: What the Switches Say

Bitcoin Sistemi (24 Sep, 17:17 UTC) wrote that an incident said to exceed $100 million was being alleged: a new address, 0xe410…d946, bought 7,111 ETH in six minutes with about 19.67 million USDT0 taken from a wallet labelled as a Bitget hot wallet on Arbitrum, and some users reported blocked withdrawals. Crypto Briefing (24 Sep), citing the analyst DCF GOD, put the moved amount at about $174 million and later $183 million, with swaps routed through UniswapX and 1inch Fusion at up to 5% above spot.

Bitget had not commented in either report. Its announcement feed carried no security notice at 20:45 UTC, and its latest proof of reserves update is dated 17 September (issue 46, 19 assets). We repeat these claims as reported. We have not verified the wallet labels or the transfers ourselves, and nothing below does.

Bitget publishes a deposit flag and a withdrawal flag for every asset and network it lists, on its public spot coins endpoint. Our collector reads it every day at 04:50 UTC and keeps every change as a dated row; that table is what the withdrawal pages on this site show. Today we read it twice more, at 20:34 and 20:40 UTC.

The count of pairs with withdrawals disabled went from 654 to 657 out of 4,930. Three pairs flipped. ETH on Ethereum mainnet: withdrawals off, deposits still on, and the published fee rose from 0.00007 → 0.00074597 ETH. INJ on Injective and HDRO on Injective: both directions off. Bitget announced the two Injective pauses at 14:57 UTC as wallet maintenance. We found no notice for ETH mainnet.

Every other major pair was open at 20:40 UTC: BTC on Bitcoin and BEP20, USDT on all 12 of its networks, USDC on all 14, SOL, XRP, BNB, AVAX, XAUT, ARB, DOGE, LTC, TRX and BGB, and ETH on its eight other networks (Arbitrum One, Optimism, BEP20, zkSync Era, Base, Starknet, Scroll, Morph). The Lightning pair for BTC and the Robinhood chain pair for ETH were already off before today.

A disabled pair is routine: chains under maintenance, dead tokens, wrapped variants nobody moves. What carries information is the change and the share. Bitget's share is among the lowest of the large venues we read, and it moved by three pairs today.

If an exchange were frozen, its markets would say so before any statement did: prices detach from other venues, resting depth is pulled, open interest leaves. Our venue snapshot reads Bitget's spot and perpetual markets every ten minutes and its spot order books every five.

Over the 30 hours to 20:20 UTC, Bitget's BTC and ETH prices, spot and perpetual, stayed within 2.6 basis points of Binance in every hourly average, and USDC/USDT held 1.0000. Resting BTC depth within 2% of mid averaged $9.5M / $11.0M (bids / asks) today against $9.7M / $11.1M yesterday; ETH depth was slightly deeper today. Perpetual open interest was $6.75B (-2.5%) against $6.93B a day earlier, while Binance -6.6%, Bybit -3.7%, OKX -6.1%, Gate -7.8%, MEXC 0.0%.

The one figure out of line is BTC spot volume: the rolling 24-hour figure fell 41% in 30 hours, against Binance -16%, Bybit -14%, MEXC -16%, Gate -8%, OKX +24%. At $231M it still sits inside the $168M to $449M range of the previous eight evenings. ETH perpetual funding sat at Bitget's 0.01% per 8h ceiling from 10:40 to 18:10 UTC, above Binance, Bybit and OKX, and eased to 0.0027% by 20:20; the venue printed that ceiling on nine of the last fourteen days, so it is not a signature of today. Large prints on our whale tape (BTC and ETH perpetuals) were net sellers on Bitget between 17:00 and 21:00 UTC, -$49M net on $269M gross, against Binance -$20M on $828M, Bybit +$31M on $295M, OKX -$16M on $475M: a sell skew, not an exodus.

Three things are invisible to us. First, account-level holds: an exchange can leave a network switch on while its risk desk queues individual withdrawals for manual review, and user reports of blocked withdrawals would look exactly like that. Second, the wallets: we do not attribute on-chain addresses to venues, so we can neither confirm nor refute the transfers. Third, intent: a hot wallet rebalance, a market maker loan and a theft can share an on-chain shape for the first hours.

The switch and the markets are what an exchange cannot hide. They are also only part of the picture.

The Bitget switch is re-read every hour until 27 September, and every change lands in the event log on the Bitget venue page and on the ETH withdrawals page. The live block at the top of this note reads the current count from the same table. If the majors flip, or if Bitget publishes a notice, the record shows it before we write a word.