Bitget Resumes Withdrawals After Revising Estimated Loss to $387.5M
Bitget has announced that it will resume withdrawals on September 28 after revising its estimated loss to $387.5 million following a major hack incident on September 24.
The exchange stated that it has fixed the underlying vulnerability and is conducting additional security checks across its withdrawal infrastructure.
Initially, Bitcoin withdrawals will be available on September 28, followed by ETH and USDT on selected networks from September 29 and 30 respectively.
Bitget's CEO Gracy Chen expressed hope that the exchange can turn this crisis into an opportunity to demonstrate users' trust in the platform is well-placed, with plans to proceed with an IPO in the next three years.
Circle and Tether have frozen approximately $318,000 in stablecoins linked to the hacker's wallet, while Bitget has publicly identified and is tracking addresses linked to the attacker.