Bitget's Revised Loss Estimate Hits $387.5M Amid Ongoing Hack Investigation
Bitget's security breach, which occurred on September 24 and initially estimated to be around $351.6 million, has been revised to approximately $387.5 million by the exchange after including other affected currencies such as Zcash and TRON.
The hacking incident involved a compromise of the trust chain for transaction signing, where hackers tampered with transaction data and got Bitget's authorized transaction signing to sign out unauthorized transfers. This attack did not involve the exposure of private keys, according to GoPlus Security's investigation.
Analysts at AMLBot have been tracing the movement of funds linked to the hack. They found that roughly 4 BTC from Bitget entered a Wasabi CoinJoin round after moving across several networks. The tracing firm connected the funds to a Bitget-linked TRON wallet, identifying a route through USDT, Ethereum, THORChain, and Bitcoin before reaching CoinJoin infrastructure.
Bitget has started the phased withdrawal resumption, with the first phase starting on September 28 for Bitcoin withdrawals. Other assets such as ETH on various networks are scheduled to be available for withdrawal by October 2.