Bitget Resumes Withdrawals After $388M Security Incident

Bitget, a major cryptocurrency exchange, has resumed withdrawals after a security incident on September 24 resulted in approximately $388 million in unauthorized transfers. The exchange had initially reported a lower estimate before including additional transactions on other networks.

The attack is believed to have originated from a third-party security product vulnerability that allowed the attacker to obtain high-level internal credentials and bypass existing risk controls. Private keys were not compromised, and cold wallets remained unaffected.

Bitget has announced a phased restoration of withdrawals, with Ethereum and USDT scheduled for September 29 and 30 respectively, followed by other supported tokens, fiat withdrawals, and P2P services on October 2. Trading and deposits remained available during the withdrawal suspension.