Bitget Resumes Withdrawals After $387.5M Security Incident

Bitget has announced that it will resume withdrawal services in stages starting from September 28. The move comes after the exchange suspended withdrawals following a security incident on September 24, which resulted in the loss of around $387.5 million in assets.

The affected assets include Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), among others, with various blockchains and cryptocurrencies impacted by the breach. Bitget's CEO, Gracy Chen, stated that the company has patched the vulnerability used in the attack and blocked further abnormal asset transfers.

Investigation into the incident is ongoing, with Google's Mandiant and SlowMist participating in the probe. To mitigate risks, Bitget is taking a different approach to restoring withdrawals compared to another exchange, Bybit, which handled a similar situation last year.