Bitget Resumes Bitcoin Withdrawals After $388 Million Hack

Bitget, a cryptocurrency exchange, has resumed Bitcoin withdrawals after a security breach on September 24 that affected nearly $388 million in assets. The breach occurred when an attacker exploited part of Bitget's hot and warm wallet infrastructure, but its cold wallets remained secure.

The exchange initially estimated the value of affected assets at $351.6 million, but later revised this figure to $387.5 million after accounting for additional transfers involving Zcash and Tron. Withdrawals have been reopened first for Bitcoin (BTC) on the Bitcoin network and BNB Smart Chain, with Ether (ETH) withdrawals scheduled to resume Tuesday across various blockchains.

Bitget CEO Gracy Chen explained that Bitcoin withdrawals were prioritized because their withdrawal process was completed before those for other assets. Tether's USDt (USDT) withdrawals are set to return on Wednesday, while withdrawals for other assets and peer-to-peer services will resume on Friday.