Bitget Reopens Withdrawals After $387.5 Million Security Breach

Bitget, a cryptocurrency exchange, has announced that it will resume withdrawals after a security breach led to the suspension of the service. The breach occurred on September 24 and affected approximately $387.5 million in assets.

The exchange will restart withdrawals in phases, with Bitcoin withdrawals set to begin on September 28 at 08:00 UTC (1:30 PM IST). This will be followed by Ethereum and USDT withdrawals on September 29 and 30, respectively. XRP and other asset withdrawals are expected to return by October 2.

Bitget has also launched a recovery bounty program, offering up to 10% in rewards for helping freeze and recover stolen funds. The exchange's CEO, Gracy Chen, stated that the temporary withdrawal pause was a security measure and did not affect users' account balances.