Bitget Resumes Withdrawals After $387.5 Million Security Breach

Bitget, a cryptocurrency exchange, has announced that it will resume withdrawals in phases after suspending services due to a security breach. The incident involved approximately $387.5 million worth of cryptocurrency assets.

The restoration of Bitcoin withdrawals is set to begin on September 28, with Ethereum and USDT withdrawals following on September 29 and 30 respectively. XRP and other cryptocurrencies' withdrawals will start on October 2.

Bitget's security teams have identified and remediated the vulnerability that led to the breach. The exchange has also introduced a 10% recovery bounty program to incentivize efforts to freeze and retrieve the stolen funds.