Bitget Resumes BTC Withdrawals as $388M Hack Probe Expands

Bitget Restarts BTC Withdrawals After $388M Breach

Bitget resumed Bitcoin withdrawals on Monday after attackers exploited a third‑party security vulnerability, siphoning roughly $388 million from the exchange. The firm confirmed that its private keys and cold wallets were never compromised, and all customer balances remain intact.

The breach originated outside Bitget’s direct infrastructure, highlighting the risks associated with third‑party service integrations. By Monday morning, the exchange had processed 9,585 BTC withdrawal requests, totaling approximately 4,098 BTC, signaling a return to normal operational flow for users.

Bitget’s response focused on securing internal systems and restoring user access without disrupting holdings. The exchange emphasized that the incident did not affect its cold storage or private key security, underscoring the importance of robust third‑party vetting for crypto platforms.

Market participants view the episode as a short‑term negative for Bitget’s reputation but note no immediate impact on broader Bitcoin sentiment. The event reinforces the need for comprehensive security audits across the custodial ecosystem, especially as assets continue to flow through centralized venues.

Source: Bitcoin.com News