Bitget Resumes BTC Withdrawals After Credential Breach Amid Crypto Market Fears

Bitget, a cryptocurrency derivatives exchange, has resumed Bitcoin withdrawals after a credential breach. The attacker exploited third-party product vulnerabilities to obtain internal credentials and issue fraudulent commands that bypassed risk controls.

The attack did not compromise private keys or cold wallets, but the exchange's systems were isolated as a precautionary measure. Bitget engaged cybersecurity firms Mandiant and SlowMist to investigate the incident and confirmed that its Protection Fund is fully covered, with a top-up exceeding $300 million this week.

According to the exchange, 9,585 BTC withdrawal orders totaling 4,098.036 BTC were processed by 17:00 UTC+8 on Bitcoin Mainnet and BSC. ETH and USDT withdrawals are expected to resume tomorrow.

The incident has caused a spike in volatility, with traders now factoring it into their short-term assumptions amid broader crypto market crash fears.