Bitget detected unauthorized transfers at 18:31 UTC on September 24 and suspended withdrawals. Bitquery traced 21 transfers out of the exchange, beginning with a 93 TRX test on Tron, then 19.67 million USDT0 on Arbitrum moving to the same address. The attacker sold stablecoins for ETH within minutes, consolidated from other chains onto Ethereum, and began converting stolen BNB into Bitcoin. Deposits and trading continued throughout. Bitget's User Protection Fund held more than $464 million when withdrawals were halted, and the exchange says it will absorb the loss.