Bitget Resumes Bitcoin Withdrawals After $387.5M Security Breach

Bitget has completed its security checks and resumed Bitcoin withdrawals on the exchange's systems. The exchange processed 9,585 withdrawal orders totaling 4,098.036 BTC as of 17:00 UTC+8 on Monday. Ether, USDT, and other assets are set to follow in phases.

According to Bitget's CEO Gracy Chen, the attacker exploited vulnerabilities in third-party products to obtain internal credentials and then used those credentials to issue fraudulent withdrawal commands that bypassed the exchange's risk controls.

Private keys were not compromised, and Bitget's cold wallets were not affected. The exchange isolated the affected systems and servers, revoked and reissued internal credentials, and restructured access to highly sensitive infrastructure.

Bitget initially estimated that $351.6 million had been affected after detecting unauthorized transfers at 18:31 UTC on September 24. It later raised the figure to approximately $387.5 million after identifying additional Zcash and TRON transfers.