Bitget Hacker Converts Stolen ETH to BTC Amid Ongoing Exploit

The hacker behind the $387.5 million Bitget exploit has started converting stolen Ethereum into Bitcoin, according to data from Coin Bureau and blockchain analytics firm Lookonchain.

Lookonchain identified transactions showing the attacker rotating ETH into BTC after the exploit, which occurred at Bitget in September 2026.

The movement of funds is part of the aftermath of the exploit involving Bitget, with blockchain transactions allowing stolen cryptocurrency to be tracked publicly.

Bitget has resumed withdrawals in phases following the exploit, and users will be fully covered regardless of whether the stolen funds are ultimately recovered, according to an update cited by Coin Bureau.