Bitget Resumes Bitcoin Withdrawals After $388M Security Breach

Bitget, a cryptocurrency exchange, has resumed Bitcoin withdrawals after suspending them following a security breach. The incident exposed parts of its hot and warm wallet infrastructure, resulting in an estimated $388 million worth of assets being compromised.

The attacker used THORChain to move the stolen funds, leading Bitget to suspend withdrawals last week. However, the exchange has begun restoring customer access to their funds in stages, with BTC withdrawals restarting on Monday.

According to Bitget's CEO Gracy Chen, the withdrawal pipeline was prioritized for completion first. This means that users can now withdraw Bitcoin from the platform, while other assets such as Ether (ETH) and Tether's USDt (USDT) are scheduled to follow once security checks are completed.

Bitget has emphasized that the schedule is uniform, with no priority access given to institutions, VIP customers, or Bitget employees. The exchange also urged THORChain to refuse services to attacker-linked addresses, but THORChain has stated that its network halt is a broad emergency response and not a selective freeze of specific funds.