Bitget Resumes Withdrawals After $388M Hack, Starting with Bitcoin
Bitget has begun to restore withdrawals after a major hack on September 24th that saw $388 million in assets moved out of its platform. The exchange started by allowing Bitcoin (BTC) withdrawals, which resumed at 08:00 UTC. By 09:00 UTC, Bitget had processed over 9,585 BTC withdrawals totaling around 4,098 BTC.
Chief Executive Gracy Chen addressed the breach in a live AMA session on Monday. According to Bitget, the attacker exploited a flaw in a third-party security product to obtain high-level internal credentials and used them to send fraudulent withdrawal commands that bypassed risk controls.
The company stated that private keys, cold wallets, and user balances were not affected by the breach. An independent forensic investigation is being supported by Mandiant and SlowMist, while industry partners have helped freeze some assets. Bitget expects to release an official security report this week.