Bitget Resumes Withdrawals After $464M Fund Cited to Cover Losses

Bitget has announced that it is restoring withdrawals in phases for its users. This comes after a security incident led to the suspension of withdrawals, which began at 4:11 a.m. ET (08:11 UTC) on Monday.

The company claims that its $464 million protection fund can cover any losses related to the attack, according to publicly disclosed proof of reserves that showed 127% coverage.

Bitget stated that each blockchain must complete repair and security validation before withdrawals reopen for the related assets. This phased schedule is the next step in restoring withdrawal access following the security incident.