Bitget Resumes BTC Withdrawals After Record-Breaking $388 Million Hack

Crypto exchange Bitget has resumed BTC withdrawals after hackers drained roughly $388 million from the platform on September 24.

The exchange reopened Bitcoin withdrawals first, with other assets set to follow over the coming days as each blockchain network clears a round of security checks.

Bitget confirmed that its User Protection Fund will cover the losses from the exploit in full. The fund holds 5,500 BTC.

The attackers exploited a vulnerability in a third-party security product used by Bitget, allowing unauthorized withdrawals from hot and warm wallets.