Bitget Updates Theft Estimate to $387.5 Million, Sets Restart Date for Withdrawals

Bitget has updated its estimate of the funds stolen from its platform on September 24. The company now believes that around $387.5 million was transferred to addresses controlled by attackers, up from an initial calculation of $351.6 million. This increase is due to a more thorough accounting of assets held in Zcash and TRON, which were not included in the first assessment.

The review of the incident has been ongoing, with Mandiant and SlowMist assisting in the investigation. Bitget claims that its protection fund will cover any financial losses incurred by users, and asserts that deposits and trading continue to operate as usual.

The company has announced a four-phase plan for restoring withdrawals, starting with Bitcoin on Monday, September 28. This will be followed by Ether and USDT on September 29 and 30 respectively, with other tokens, fiat currencies, and peer-to-peer transactions expected to resume on October 2.