Bitget Resumes Bitcoin Withdrawals Amid Ongoing THORChain Hack

Crypto exchange Bitget is resuming Bitcoin withdrawals after a security breach that compromised nearly $388 million in assets, as the attacker continues to move stolen crypto through THORChain. The company suspended withdrawals following last week's incident and had initially revised the stolen amount from $351.6 million to $387.5 million.

Bitget CEO Gracy Chen explained that Bitcoin (BTC) withdrawals were resumed first because the withdrawal pipeline was completed first, with Ether (ETH) and Tether's USDt (USDT) set to follow as security checks progress. The schedule applies to all users, with no priority access for institutions, VIP customers or Bitget employees.

Bitget has asked THORChain to refuse services to addresses linked to the attack, but the protocol 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.'