Bitget Hack Losses Revised to $387.5M as Withdrawals Resume

The cryptocurrency exchange Bitget was hacked on September 24, 2026. The hack was discovered by Bitget's security team at 18:31 UTC, and they immediately activated their emergency plan to contain the damage.

Most of the funds remained safe, as cold wallets were not compromised during the breach. However, some hot wallets were affected, leading to a significant loss for the exchange.

The total loss estimate has been revised to approximately $387.5 million, up from the initial estimate of around $351.6 million. This increase is due to newly discovered Zcash and TRON assets that were initially overlooked.

Bitget's security team, assisted by Mandiant and SlowMist, has successfully identified and fixed the vulnerability used in the hack. Withdrawals will resume in stages, starting with BTC on September 28, followed by ETH on September 29, USDT on September 30, and other coins on October 2.

Bitget has also launched a 5% recovery bounty program to encourage individuals and organizations to help recover the stolen funds. Circle and Tether have already frozen approximately $318,000 linked to the hack, while Binance CZ has expressed support for Bitget and offered assistance in recovering the losses.