Bitget Updates Hack Estimate to $387.5M, Outlines Withdrawal Restart

Bitget Raises Hack Estimate, Plans Phased Withdrawal Resumption

Bitget now estimates approximately $387.5 million in assets were transferred to attacker-controlled addresses, an increase from the initial $351.6 million figure. The exchange attributes the revision to additional assets identified during transaction tracing, not a new breach. The compromised assets span multiple blockchains, including Ethereum, XRP Ledger, Zcash, and TRON.

Bitget claims its security team has identified and remediated the vulnerability exploited in the attack, stating no further unauthorized transfers are currently possible. Independent security firms Mandiant and SlowMist are assisting with the ongoing investigation.

Withdrawal Schedule

The exchange is implementing a phased resumption of withdrawals. Bitcoin (BTC) withdrawals are slated to reopen on September 28th. Ethereum (ETH) withdrawals across supported networks will follow on September 29th, with Tether (USDT) withdrawals scheduled for September 30th. Remaining tokens, fiat services, and peer-to-peer withdrawals are expected to be restored by October 2nd.

Bitget has also launched a recovery bounty program, offering rewards to individuals who contribute to freezing or recovering stolen funds. The exchange maintains that customer account balances remain unaffected and that its insurance arrangements cover the financial impact of the incident. The immediate focus is on restoring full withdrawal functionality.

Source: NewsBTC