Bitget Resumes Bitcoin Withdrawals After Security Breach Exposing $388 Million Hack
Crypto exchange Bitget has begun restoring customer withdrawals after a security breach last week exposed parts of its hot and warm wallet infrastructure. The incident impacted assets totaling about $388 million, which is an updated figure from an initial estimate of $351.6 million.
Bitget said the attacker has continued moving stolen funds through THORChain. The exchange suspended withdrawals following the breach, then announced on Monday that it is resuming them in stages.
According to Bitget, BTC withdrawals restarted first, with Ether (ETH) and Tether's USDt (USDT) scheduled to follow as security checks progress. Bitget CEO Gracy Chen explained that BTC was prioritized because the withdrawal pipeline is the first to be completed.
In an ask-me-anything session, Chen indicated that the exchange would expand withdrawals to other assets once its security review for each step is finished. Bitget's schedule outlines when users can expect withdrawals to return across multiple networks.
THORChain disputes calls for selective freezing of attacker-linked addresses, stating that its network halt affects the protocol generally rather than targeting specific funds or individual swaps.