Bitget Raises Hack Estimate To $387.5M And Sets Withdrawal Restart Plan

The useful part

The exchange says the underlying vulnerability has been identified and remediated. Bitget has published a substantial update on this week's security breach, increasing the confirmed amount transferred to attacker-controlled wallets and laying out a timetable for restoring withdrawals. Bitget says the change reflects additional assets identified during transaction tracing rather than a second wave of unauthorized transfers.

How it works

• The revised loss estimate includes assets across multiple networks, including Ethereum and other EVM chains, XRP Ledger, Zcash and TRON.
• Ether withdrawals across several supported networks are expected to follow on September 29, with USDT withdrawals scheduled for September 30.
• Patched, Bitget Says According to the exchange, its security team has now identified the attack path and the method used to bypass existing controls.
• Bitget says the underlying vulnerability has been remediated and that no further unauthorized transfers are possible.
• Eligible parties whose voluntary actions directly result in funds being frozen or recovered can receive a bounty calculated as a percentage of the assets secured.

What to take from it

The exchange says some funds have already been frozen through coordination with industry partners. Withdrawals Will Return In Stages Bitget plans to reopen withdrawals gradually rather than turning everything back on at once.

Details worth keeping

Bitget has also launched a recovery bounty program. Bitcoin withdrawals are scheduled to resume first on September 28.