Home›Crypto›Market Structure›Bitget opens BTC withdrawals in phased restart after $…

Bitget opens BTC withdrawals in phased restart after $387.5M hack

The exchange still requires separate testing before ETH and USDT withdrawals resume, after pausing withdrawals on Sept. 24 while keeping trading and deposits active.

Reported · Written up by our desk · Market Structure

Bitget has reopened Bitcoin network withdrawals as part of a phased restart after a Sept. 24 security breach, with the exchange saying its Protection Fund will cover the incident's financial impact, according to CryptoSlate.

Bitget said it detected unauthorized transfers from some hot wallets at 18:31 UTC on Sept. 24, and it initially estimated affected assets at about $351.6 million before updating the figure to approximately $387.5 million on Sept. 25, while also stating the revision did not reflect additional unauthorized transfers.

The exchange's notice, dated Sept. 28, indicated BTC withdrawals are open, but it did not document any completed customer withdrawals, and it said trading activity and the ability to send assets off the exchange face separate tests.

CryptoSlate reports that Bitget highlighted that BTC withdrawals are the first stage of the plan, while ETH and USDT withdrawals must wait for further steps, leaving customers focused on whether they can successfully transfer balances or trading proceeds out of their accounts.

Latest closeBitcoin $83,540.90 ▼1.1%|Ethereum $2,684.46 ▼0.1%

More like this

Sources