Swiss Bank Offers Institutional Clients Safe Haven During Bitget Crisis

Bitget has been dealing with the aftermath of a wallet breach that occurred on September 24, which resulted in an estimated $387.5 million in assets being transferred to attacker-controlled addresses.

The exchange initially reported that about $351.6 million was affected, but later revised this number upwards after including Zcash and TRON transfers in its accounting.

Bitget said it identified and remediated the underlying vulnerability and contained the incident with the help of Mandiant and SlowMist, who were assisting with the investigation.

However, the exchange's withdrawals remained suspended as of September 25, even as deposits and trading continued. Bitget promised to announce a withdrawal plan or status by September 26 at 04:00 UTC.