Four days after unauthorized transfers from parts of its hot and warm wallets, Bitget reopened Bitcoin withdrawals and outlined a phased plan to restore other withdrawal services while investigators trace and recover affected assets.
Bitcoin withdrawals resumed on 28 September at 08:00 UTC after Bitget identified and remediated the vulnerability that enabled unauthorized transfers.
Bitget traced the attack vector to a flaw in a third-party security product that gave the attacker high-level internal credentials used to bypass withdrawal risk controls.
Ether, Tether, other tokens, fiat and P2P withdrawals will be restored in staged phases through 2 October while Mandiant and SlowMist continue forensic work and asset tracing.
# What happened
# How Bitget responded Withdrawals were suspended as a precaution while Bitget examined its withdrawal infrastructure. Bitcoin withdrawals reopened at 08:00 UTC on 28 September after additional security checks and remediation of the identified vulnerability. Trading and deposits continued during the suspension.
# Recovery and investigation efforts Bitget is working with Mandiant and blockchain security firm SlowMist on forensic analysis and tracing of affected funds. The exchange has launched a recovery bounty program and is coordinating with law enforcement and other industry participants to trace and recover assets. It reports some affected assets have already been frozen.
Bitget says the loss falls within the coverage of its Protection Fund, which its first incident notice valued at more than $464 million. The investigation remains open, so details about the attacker's identity and the full extent of the compromise are subject to change.
# Service restoration schedule Bitget published a phased schedule to restore withdrawals and other services. All times listed by the exchange open at 08:00 UTC on the specified date:
# What remains uncertain The root cause was linked to a third-party security product, but the investigation has not concluded. The identity of the attacker and the full scope of movement and recovery of the affected funds are still being determined by Bitget, Mandiant, SlowMist, and law enforcement partners.
# Practical implications for users and operators Users: Bitget says account balances were unaffected and cold wallets were secure, but users should monitor account activity and follow any platform communications about password resets or recommended security steps.
# Short timeline
TL;DR Bitget has increased the confirmed value of assets transferred to attacker-controlled addresses from $351.6 million to about $387.5 million. The exchange says the underlying vulnerability has been identified and remediated. Withdrawals are scheduled to return in stages beginning with Bitcoin on September 28 and c
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