Bitget Resumes Withdrawals After $388M Hack

Crypto exchange Bitget has begun restoring withdrawals after a massive hack on September 24 that drained around $388 million from the platform. The exchange initially reopened BTC withdrawals via the Bitcoin network, and other assets will follow in stages as each network undergoes additional security checks.

On September 29, Bitget plans to resume ETH withdrawals via Ethereum, BSC, Arbitrum, Base, and Optimism. USDT withdrawals via Ethereum, BSC, Solana, and Tron are scheduled to return a day later. Withdrawals for all remaining assets, fiat withdrawals, and P2P transactions are expected to be fully restored on October 2.

The attack occurred when an attacker obtained high-level internal credentials through a vulnerability in a third-party security product used by Bitget. The attacker then sent fraudulent withdrawal commands that bypassed risk controls and triggered unauthorized transfers. According to the exchange, private keys were not compromised, and user balances and cold wallets were not affected.

Bitget has launched a recovery bounty program, offering 5% of the amount successfully recovered to parties whose actions directly help freeze or recover stolen assets. The exchange also suspects that North Korea may have been behind the attack.