Bitget Reopens Withdrawals as Hackers Swap ETH via THORChain
Crypto exchange Bitget has resumed Bitcoin withdrawals after a security breach that compromised nearly $388 million in assets. The attacker, who stole funds from hot and warm wallets, is still moving stolen crypto through THORChain.
According to Bitget, the company resumed BTC withdrawals on Monday, with additional assets and networks set to follow over the coming days. Ethereum (ETH) and Tether's USDt (USDT) withdrawals are scheduled to resume next, but only after security checks progress.
The breach occurred on September 24 and compromised part of Bitget's hot and warm wallet infrastructure, while its cold wallets remained secure. The stolen amount was initially estimated at $351.6 million, but later revised to $387.5 million after accounting for additional transfers on Zcash and Tron.
Bitget CEO Gracy Chen has called on THORChain to refuse services to addresses linked to the attack. However, THORChain stated that its network halt is an emergency security mechanism that affects the protocol broadly and 'is not a selective freeze of specific funds or an individual swap.'