Bitget Raises Estimated Losses to $387.5 Million After Security Incident

Bitget has revised its estimated losses from a security incident on September 24 to $387.5 million, an increase of over $36 million from its initial estimate.

The crypto exchange initially reported that $351.6 million in assets were affected by the incident, but further tracing identified additional transfers involving Zcash and TRON, leading to the revised figure.

Bitget CEO Gracy Chen stated that the revised figure does not indicate any new theft, and security teams have contained the incident and blocked further unauthorized transfers.

Mandiant and SlowMist are assisting Bitget with the investigation and forensic analysis, while technical teams have fixed the underlying vulnerability and continue conducting security checks.