Bitget resumes Bitcoin withdrawals after $387.5 million crypto heist
Bitget said the flaw is fixed and its User Protection Fund will cover losses as it restores services in stages.
- On Monday, September 28, 2026, Bitget resumed Bitcoin withdrawals, marking the first phase of service restoration following a September 24 security breach affecting approximately $388 million in assets.
- Bitget CEO Gracy Chen explained during a September 28 livestream that attackers exploited a third-party security product vulnerability to obtain internal network credentials, which they used to generate fraudulent withdrawal commands bypassing risk controls.
- Bitget's User Protection Fund, holding about $464 million, will cover the losses in full, while investigators including Mandiant and SlowMist continue reviewing the approximately $387.5 million theft.
- Ether withdrawals are set for Tuesday across Ethereum, BSC, Arbitrum, Base, and Optimism, while USDT withdrawals on Ethereum, BSC, Solana, and Tron follow on Wednesday as Bitget executes its phased rollout.
- To address the incident, Bitget launched a bounty program offering 5% rewards for frozen or recovered assets, while remaining services including fiat and peer-to-peer transactions are scheduled to return on October 2.
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cybernoz.comBitget resumes Bitcoin withdrawals after $387.5 million crypto heist
Cryptocurrency exchange Bitget has resumed Bitcoin withdrawals suspended after suspected North Korean hackers breached its systems last week and stole over $350 million.
Bitget had 30 minutes to contain its hack before $290 million started moving
Bitget detected unauthorized wallet transfers about 30 minutes before attackers began draining hundreds of millions of dollars from the crypto exchange, raising questions about why its security response failed to contain the breach. The exchange said its systems flagged unauthorized transfers at 18:31 UTC on Sept. 24 and that its security team immediately activated emergency protocols. However, blockchain security firm Hypernative's reconstructi…
Bitget Begins Phased Withdrawals After $388M Exploit Shook The Platform
TL;DR Bitget began phased withdrawals following the exploit that occurred on September 24, in which approximately $388 million were stolen from the platform. The attacker exploited a vulnerability in a third-party security product to obtain internal credentials and execute fraudulent transfers. The exchange confirmed that its user protection fund, holding 5,500 BTC, will fully cover ...
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