Bitget Reopens Withdrawals After $387.5 Million Hack

Bitget has restarted withdrawals after a $387.5 million security breach that compromised its wallet infrastructure on September 24.

The exchange said its Protection Fund will cover the financial impact of the hack, ensuring users do not take losses from stolen assets.

Withdrawals are being phased in, with Bitcoin available as of September 28 and Ethereum scheduled for September 29. Other tokens, fiat, and P2P services are expected to return by October 2.

The incident affected assets across various networks, including Ethereum, XRP Ledger, Zcash, and Tron. Investigators have identified similarities with previous North Korean crypto theft activity, although the attacker's identity has not been conclusively established.