Bitget Resumes Withdrawals After $387.5 Million Crypto Exploit

Bitget has resumed withdrawals in stages after a significant security breach on September 24, which saw attackers transfer approximately $387.5 million in crypto assets to their own addresses.

The exchange initially estimated losses at around $351.6 million, but subsequent transaction classification added assets from various networks, including Zcash and Tron, bringing the total loss to $387.5 million.

According to Bitget, the attackers compromised a critical backend component within its wallet infrastructure, allowing them to manipulate transaction information before it reached the authorization process.