Bitget's Hacked Funds Soar to $387.5 Million as Recovery Efforts Intensify

Bitget's estimated losses from its September 24 breach have increased to $387.5 million, up from an initial estimate of $351.6 million.

The exchange said further on-chain tracing identified Zcash and TRON assets that were initially excluded from the accounting, contributing to the revised estimate.

Bitget's CEO Gracy Chen stated in a September 25 update that no additional unauthorized transactions had occurred, and the increase reflected transfers made during the original incident.

The exchange is working with blockchain security firms Mandiant and SlowMist to investigate the breach and has identified and patched the underlying vulnerability.